January 5, 2017
Unico Properties acquired the 18-story Washington Building at 1019 Pacific Ave. in Tacoma, WA in an off-market transaction. The Seattle-based buyer paid seller Stratford Co. $9.8 million for the 90-year-old building, and announced plans to convert the office building into apartments.
The 124,200-square-foot building is approximately one-third occupied and needs significant upgrades. It was the tallest building when completed in the mid-1920s. These days, it’s the second-tallest building in the Northwest, behind Smith Tower in Seattle, which Unico also owns.
The apartment conversion is scheduled for late summer 2018. The project will bring back residents, life and excitement after-hours to the heart of the city,” Unico Properties Director of Development Julie Currier said in a news release.
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