Home Commercial Unico Properties Secures 7,000 SQFT Lease at the Skinner Building in Downtown...

Unico Properties Secures 7,000 SQFT Lease at the Skinner Building in Downtown Seattle

Unico Properties, Turgeon Raine, Skinner Building, Seattle, Gucci, Metropolitan Tract
Courtesy of Cleary O’Farrell

Seattle’s premier jeweler expands square footage, selects preeminent corner in downtown retail core and signals its belief in the resiliency and vibrancy of Seattle

SEATTLE (April 19th, 2021) — Unico Properties LLC, a real estate investment and operating company, has attracted and secured a long-term, 7,000-square-foot lease for Seattle’s premier jeweler, Turgeon Raine, at the Skinner Building at 1300 5th Avenue in Downtown Seattle. Turgeon Raine has just moved from its previous 5,000-square-foot location at 1407 5th Avenue into the space formerly occupied by Gucci.

Located at 1326 Fifth Avenue, between Union and University Streets on the Metropolitan Tract, the Skinner Building is an eight-story, 216,000-square-foot, historical building. Built in 1926 and listed on the National Registry of Historic Places, the Skinner Building evokes a sense of timeless elegance and historic character. It is also home to the 2,130-seat 5th Avenue Theatre, a space renowned for providing some of the best musical theatre in the city.

Unico manages five of the office and retail properties on the Metropolitan Tract, a 10-acre parcel of land between Union and Seneca streets and Third and Sixth avenues.

Founded in 1982 by gem aficionado, Jerry Raine, Turgeon Raine offers the discriminating jewelry buyer an unparalleled experience in taste, style and elegance. Alongside his wife, Yukiko and their daughter Maymi, their remarkable collection of fine jewelry and gems is an on-going collaboration of their combined experience of more than 80 years, and their passion for exceptional quality and design. In addition to original Turgeon Raine designs, the store carries many of the top collections by international designers and showcases a major collection of engagement rings, wedding bands and a custom design shop.  Complementing its collection of jewelry is an extensive inventory of watches by the world-renowned Patek Philippe, which are displayed in its own, in-store boutique.

“We’re thrilled to have earned this commitment from Turgeon Raine, and we’re pleased to support the relocation of Seattle’s premier jeweler to the historic Skinner Building,” said Janel Jensen, Unico Properties Director, Retail Leasing.  “There’s no denying that Covid-19 has created a challenging environment, but it’s exciting and inspiring to see a local business experience growth during these times, and this move signals the resilience of consumer demand, the resilience of downtown Seattle and a bright future coming out of the pandemic.”

Each floor of the Skinner Building offers unique floor plates, operable windows, and stunning views of downtown. From the impressive glass entry doors in the marble-detailed lobby to the exquisite brass elevator doors, it blends classic details with modern convenience to provide the best of old and new in a prime downtown location. Rated LEED®-EB Gold for efficient energy and water use, the Skinner Building charms tenants and guests with both its historic character and modern building systems. POP Multimedia Inc., a Seattle-based, independent, award-winning digital marketing agency, has been a tenant in the building on the top floor and a portion of the third floor since 2008.

“The corner of 5th and University is the most upscale corner in the whole downtown retail core – it has history as the first location of the University of Washington and we’re surrounded by Seattle’s iconic architecture, including the IBM Building, the 5th Avenue Theater, the Fairmont Olympic Hotel, Rainier Square and the new Rainier Tower. We’re very proud and excited to be a part of this historic location,” said Jerry Raine, Turgeon Raine Founder.

“Understanding that the pandemic has temporarily changed the nature of downtown, I still believe in the long-term outlook for Seattle. As Mark Twain once said, ‘The reports of my death are greatly exaggerated.’ Seattle is here to stay and it will return to the same vibrancy that has made it one of the best metropolitan cities in the country.” 

About Unico Properties LLC

Unico Properties LLC, a subsidiary of Unico Investment Group LLC, is a commercial real estate investor, developer, and full-service operator focused on office and multifamily assets in emerging markets throughout the United States. Founded in 1953, Unico has been transforming the built environment by creating innovative, people-focused building experiences through a cadre of subsidiary companies that deliver boutique expertise and institutional execution for its own accounts and select third-party clients. The private equity real estate investment firm currently owns and operates 18 million square feet of commercial properties across the United States and continues to grow.