SEATTLE-Unico Properties has announced that Creeksides at CenterPoint has been purchased by one of it's sponsored investment funds.

The three-building, class-A office campus totaling about 220,000-square-foot, is located at 20415, 20425 and 20435 72nd Avenue South in Kent. Creeksides is a premier office property in Seattle's Southend market preferred by corporate customers looking for higher quality space with a wide array of amenities including a restaurant, conference centers, a fitness center and a child care center.

Built in 1985 and renovated in 2000, the three, four-story buildings are situated in a picturesque, well-landscaped business park with a pond and waterfall. The property offers excellent on-site amenities and abundant parking. Creeksides is in close proximity to Kent's retail core, restaurants and hotels.  Plus, the campus is within five minutes of the Seattle-Tacoma International Airport which is vital to Southend tenants who are heavy users of the airport for both employees and guests.  And, due to its close proximity to I-5 and SR 167, it provides convenient access to employees commuting from Seattle, the Eastside and the Southend.

Creeksides is currently 65% leased to a roster of tenants including GE Aviation, Iron Bow Technologies, Door to Door Storage, the Department of Health, and the Department of Social and Health Services.  Many existing corporate companies located in the area are growing, including Wizards of the Coast, Providence Health and Services and Boeing, which added 5,000 jobs in 2012 due to the growth of Boeing's 737 twin-engine jet airliner production.

“Creeksides represented an opportunity to buy one of the highest quality assets in Seattle's Southend,” said Unico president & CEO Quentin Kuhrau.  “The campus offers modern and high-end construction and design, beautiful and mature landscaping, a premier location, immediate access to major freeways and Sea-Tac, and a strong and vast amenity base.  This, combined with the increased demand and leasing velocity in the Southend, creates a preferred submarket for leading corporations.”

Unico plans to invest substantial capital to upgrade building common areas, mechanical systems, and new tenant spaces to further enhance the building's appeal as the premiere office location in Seattle's Southend market. In addition, the campus offers a 4:1,000 square foot parking ratio and it is within walking distance of a full-service restaurant, a large conference facility, a Bright Horizons day care facility and a large health club.

Unico Properties LLC is a real estate investor and full-service operator, focused on office and multifamily assets in the Western United States.