Partners: network

H. Adams Ashforth, Donald J. Covey, Alfred R. Glancy Jr., Alfred R. Glancy III, Quentin W. Kuhrau, Roger L. Stevens, Benjamin Tobin

Active 1953-present

Firm Notes

Developers responsible for the Unigard Building (1973), Rainier Bank Tower (1977), and One Union Square Building (1981), among others in Seattle, WA. Unico Properties worked very closely with the University of Washington between 1953 and 2014. In 2014, the University continued its association with Unico Properties to manage properties and supervise leasing for most properties of its Metropolitan Tract in Downtown Seattle. It began real estate development relationships with other firms at this time, too, including Wright, Runstad and Company, which redeveloped 1.1-million-square-foot Rainier Square tower project. (See Marc Stiles, Puget Sound Business Journal.com, "The more things change...Unico wins Met Tract assignment," published 06/10/2014, accessed 04/19/2023.)

Alfred R. "Al" Glancy III served as Executive Chairman of the Board of Unico Properties between 2000 and his retirement in 2016. Al Glancy joined the Unico Board of Directors in 1975. His daughter, Joan Courts Glancy would also become a Unico Board of Directors member.

Unico described itself in 2023: "Unico was formed in 1953 when their founder, Roger L. Stevens, and his investment partners, Alfred R. Glancy, Jr., Ben Tobin, and H. Adams Ashforth, were selected by the University of Washington to lease, manage, and develop the University of Washington’s 10-acre Metropolitan Tract in downtown Seattle. Over the next six decades, they developed 3.3 million square feet of high-rise office and retail space on and adjacent to the Tract, including the iconic Rainier Tower and award-winning Two Union Square. The developments were structured as part of a lucrative ground lease with the University; this lease expired in 2014, however they retain their long-held management assignment for the portfolio. In the mid-1990s they began a deliberate evolution from downtown Seattle-focused owner/operator to a real estate investment firm actively buying and developing properties throughout the Northwestern and Western United States." (See Loopnet.com, "JLL 1601 5th Ave - Orchard Workspace by JLL | Westlake Tower," accessed 04/19/2023.)

By 2023, the company was known as Unico Properties, LLC, a subsidiary of Unico Investment Group, LLC. Other subsidiaries included: Unico Solar Investors and UPI Commonwealth, LLC.

PCAD id: 3280