New Owners, Fresh Plans: Unico Properties Purchases Smith Tower

The beginning of 2015 brought new exciting new opportunities to Smith Tower and its tenants when Seattle-based real estate owner and operator Unico Properties purchased the building. While not quite as long-standing as Smith Tower, Unico has an established history in downtown Seattle: the company was founded in 1953 to lease, manage, and develop the University of Washington’s 10-acre Metropolitan Tract. Over four decades, Unico developed several office towers on and off the tract, including the iconic Rainier Tower in 1977 and Two Union Square in 1989.

We’re honored to own and invest in the iconic Smith Tower, and further solidify its reputation as a premier city landmark that offers a superior corporate image for both professional services and creative technology firms, said Ned Carner, Unico’s vice president of acquisitions.

Unico plans to invest in upgrades to the building’s amenities, including the historic Chinese Room and observation deck on the 35th floor, the top of the tower’s commercial section. During these renovations, which have begun immediately, the Observation Deck and Chinese Room will be closed to the public and unavailable for rental.