Unico Properties JV Tops Out Seattle Project
- Jan 18, 2021
Partners Group and Unico Properties have celebrated the placing of the final beam on Cascadian, downtown Seattle’s latest sustainable office building. Sellen is the general contractor of the nine-story project, which features an in-built solar energy system.
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After breaking ground in September 2019, the Class A office development is expected to deliver in the summer of 2021. Upon completion, Cascadian will offer 211,066 square feet of creative office or life science space, with average floorplate sizes between 25,000 and 30,000 square feet. The project also calls for a 7,300-square-foot rooftop terrace and outdoor spaces for tenants.
Located at 330 Yale Ave. N. in South Lake Union’s Cascade neighborhood, the office will have nearby access to Interstate 5 and Metro and Sound Transit Express stops. Cascadian is also situated near Seattle’s central business district that is home to Amazon’s corporate headquarters and Facebook’s Dexter office.
Ron Lamontagne, Partners Group’s managing director & co-head of private real estate Americas, said in prepared remarks that the Cascadian project aligns with the company’s focus on sustainability. The office will be equipped with an in-built 92 kW solar energy system that will offset 8 percent of the building’s total energy use, according to Unico. The building’s design has earned a LEED Platinum pre-certification, as well as a Salmon-Safe certification, a regional designation that aims to protect salmon habitats through minimizing the impact of developments.
Shortly after the groundbreaking of Cascadian in 2019, Unico teamed up once again with Partners Group to acquire a 227,811-square-foot mixed-use building in Bellevue, Wash., in an off-market transaction. Unico also bolstered its Seattle office portfolio with a $236 million acquisition of a 365,674-square-foot Class A property in October 2019.