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    Unico Properties is a private real estate firm offering people-focused, results-driven investment, development, management, and sustainability services in emerging markets across the United States.

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Case Studies

U.S. Bancorp Tower Repositioning

Knowing that anchor tenant U.S. Bancorp would eventually downsize, and that the new wave of office demand favored a more activated environment, Unico embarked on a property makeover.

Our vision was to reposition the property to attract a more diverse tenant mix, emphasizing technology and creative firms, without alienating the professional firms that defined much of the existing tenant base and had upcoming lease renewals to address.


U.S. Bancorp Tower is an iconic Class A, 42-story office tower in Portland

Property Information


 

US Bancorp Tower lobby prior to renovation, featuring mid-2000s decor with pink marble finishes.

Lobby / Before

 

Interior of US Bancorp Tower with modern glass and wood finishes.

Lobby / After


A year after U.S. Bancorp gave back 180,000 square feet, the tower was back to
97% leased in a market that typically absorbed 300,000 square feet a year

Our Investment Services


Map of Downtown Portland, showing the neighborhoods around US Bancorp Tower.

To appeal to a broad mix of tenants, our repositioning strategy combined polished style with modern amenities.

We spent a year renovating the 1.2 million square foot tower and plaza, adding retail amenities, contemporary finishes, a stunning new staircase with glass walkways that improved circulation, and 15,000 rentable square feet of new usable space. We also revamped the outdoor plaza, renovated floor plates to create open, vibrant spaces, and implemented operational updates to allow both dogs and bikes into the building.

Our repositioning vision and execution were successful in attracting tech and creative firms like New Relic, Webtrends, and Survey Monkey to the building while retaining many of the existing tenants. Today the tower is home to a broad mix of tenants and market-leading rental rates.

Details

  • Backfilled 180,000 sf of vacancy in just 14 months
  • Added 15,000 square feet of rentable space
  • Repositioned commodity office floors into desirable creative office space

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Services Provided

  • Repositioning

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Unico Properties

1215 Fourth Avenue, Suite 600
Seattle, Washington 98161

(206) 628-5050

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