Overlake Hospital Medical Center Selects Unico Properties and Wallace Properties to Manage and Lease Its Office Properties
July 6, 2009
BELLEVUE, WA – Unico Properties LLC, a real estate investment, operating, and management company, and Wallace Properties, Inc., an investment, property management and leasing firm, announced today that Overlake Hospital Medical Center (Overlake) in Bellevue, WA, has selected the two firms to jointly manage and lease its seven medical office buildings, which comprise a total of approximately 250,000 rentable square feet. The Overlake assignment commences in July 2009.
Unico and Wallace Properties created a joint venture partnership to serve the management and leasing needs of Overlake. Unico will manage the main Overlake campus buildings and Wallace Properties will manage the suburban clinics, located in various communities on the Eastside. The two firms will jointly provide leasing services for all Overlake locations.
“Unico and Wallace Properties worked together to structure a well-rounded team and a full service real estate package for Overlake Hospital Medical Center. Combining our real estate expertise and skills creates an effective way manage and lease their diverse portfolio,” said Unico CFO and Senior Vice President of Property Management John Lamb.
Unico and Wallace Properties bring a depth of medical office building management and leasing experience to Overlake.
Unico managed the Cobb Medical Building on the Metropolitan Tract in downtown Seattle from 1953 – 2005, until the building was redeveloped into luxury apartments. Other medical assets Unico has owned or managed include Allenmore Medical Building B, Stevens Pavilion, West Pavilion I & II, and Oregon Surgery Center, all located in the Northwest. Unico developed Allenmore Medical Building C, which opened in 2007.
Wallace Properties also brings a long history of medical office building management and leasing services, including other Overlake assignments. The firm has served these notable Puget Sound area medical clinics: Virginia Mason, Swedish, Providence, Washington Imaging, Overlake Internal Medicine, Pediatric Associates and many other professional practices.
“Both Wallace and Unico bring an owner’s perspective and knowledge of the importance of serving Overlake physicians and staff at the highest level. This team presents the expertise to deliver high tenant satisfaction and to meet the client’s financial objectives,” said Robert C. Wallace, CEO of Wallace Properties.
Unico recently received a 2008 National Commercial Real Estate Customer Service Award for Excellence from CEL & Associates, a national, independent real estate consulting firm. Also known as the “A List,” the award honors Unico for being the number one ranked firm in its category in the United States for providing the best in customer service. Although Unico’s properties have consistently earned tenant satisfaction awards such as “Best in Industry”, ranking in the top one percent of the 6,000 buildings surveyed, this is the first time that the firm has ranked number one nationally.
“We operate properties with care, so our customers benefit from the knowledge and expertise we’ve gained from a half-century of managing and leasing properties. Unico’s passion to deliver excellent service motivates our actions each day,” said Lamb.
Overlake Hospital Medical Center is a nonprofit, non-tax supported regional medical center. Overlake is licensed for 337 beds and offers a comprehensive range of services including cardiac care, cancer care, general and specialty surgery, women’s programs, senior care, and the only Level III trauma service on the Eastside. In 2009, Overlake received HealthGrades® Patient Safety Excellence Award, and ranks among the top five percent of hospitals in the nation for patient safety. For more information, log on to www.overlakehospital.org.
“As a part of the Bellevue community, we know the significant role that Overlake plays in the lives of families and individuals and it is a privilege to serve this world class medical center,” added Wallace.
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About Unico
Unico is a real estate investment, operating, and management company with premier properties in the western United States. Unico produces excellent returns for its partners by anticipating and addressing the real state needs of its customers with environments that enhance the success of the people, business and communities it serves. Unico is a leader in the real estate industry in green and sustainable practices. It earned LEED®-EB (Existing Building) certification for 100 Pine in San Francisco, the first multi-tenant office building to receive such certification in California and only the second on the West Coast. For more information about Unico, please visit the firm’s website at www.unicoprop.com.
About Wallace Properties, Inc.
Serving Western Washington since 1977, Wallace Properties, Inc. offers a complete spectrum of real estate services, providing commercial leasing and sales, property management, and real estate acquisition, syndication, and development services all under one roof.
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BELLEVUE, WA – Unico Properties LLC, a real estate investment, operating, and management company, and Wallace Properties, Inc., an investment, property management and leasing firm, announced today that Overlake Hospital Medical Center (Overlake) in Bellevue, WA, has selected the two firms to jointly manage and lease its seven medical office buildings, which comprise a total of approximately 250,000 rentable square feet. The Overlake assignment commences in July 2009.
Unico and Wallace Properties created a joint venture partnership to serve the management and leasing needs of Overlake. Unico will manage the main Overlake campus buildings and Wallace Properties will manage the suburban clinics, located in various communities on the Eastside. The two firms will jointly provide leasing services for all Overlake locations.
“Unico and Wallace Properties worked together to structure a well-rounded team and a full service real estate package for Overlake Hospital Medical Center. Combining our real estate expertise and skills creates an effective way manage and lease their diverse portfolio,” said Unico CFO and Senior Vice President of Property Management John Lamb.
Unico and Wallace Properties bring a depth of medical office building management and leasing experience to Overlake.
Unico managed the Cobb Medical Building on the Metropolitan Tract in downtown Seattle from 1953 – 2005, until the building was redeveloped into luxury apartments. Other medical assets Unico has owned or managed include Allenmore Medical Building B, Stevens Pavilion, West Pavilion I & II, and Oregon Surgery Center, all located in the Northwest. Unico developed Allenmore Medical Building C, which opened in 2007.
Wallace Properties also brings a long history of medical office building management and leasing services, including other Overlake assignments. The firm has served these notable Puget Sound area medical clinics: Virginia Mason, Swedish, Providence, Washington Imaging, Overlake Internal Medicine, Pediatric Associates and many other professional practices.
“Both Wallace and Unico bring an owner’s perspective and knowledge of the importance of serving Overlake physicians and staff at the highest level. This team presents the expertise to deliver high tenant satisfaction and to meet the client’s financial objectives,” said Robert C. Wallace, CEO of Wallace Properties.
Unico recently received a 2008 National Commercial Real Estate Customer Service Award for Excellence from CEL & Associates, a national, independent real estate consulting firm. Also known as the “A List,” the award honors Unico for being the number one ranked firm in its category in the United States for providing the best in customer service. Although Unico’s properties have consistently earned tenant satisfaction awards such as “Best in Industry”, ranking in the top one percent of the 6,000 buildings surveyed, this is the first time that the firm has ranked number one nationally.
“We operate properties with care, so our customers benefit from the knowledge and expertise we’ve gained from a half-century of managing and leasing properties. Unico’s passion to deliver excellent service motivates our actions each day,” said Lamb.
Overlake Hospital Medical Center is a nonprofit, non-tax supported regional medical center. Overlake is licensed for 337 beds and offers a comprehensive range of services including cardiac care, cancer care, general and specialty surgery, women’s programs, senior care, and the only Level III trauma service on the Eastside. In 2009, Overlake received HealthGrades® Patient Safety Excellence Award, and ranks among the top five percent of hospitals in the nation for patient safety. For more information, log on to www.overlakehospital.org.
“As a part of the Bellevue community, we know the significant role that Overlake plays in the lives of families and individuals and it is a privilege to serve this world class medical center,” added Wallace.
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About Unico
Unico is a real estate investment, operating, and management company with premier properties in the western United States. Unico produces excellent returns for its partners by anticipating and addressing the real state needs of its customers with environments that enhance the success of the people, business and communities it serves. Unico is a leader in the real estate industry in green and sustainable practices. It earned LEED®-EB (Existing Building) certification for 100 Pine in San Francisco, the first multi-tenant office building to receive such certification in California and only the second on the West Coast. For more information about Unico, please visit the firm’s website at www.unicoprop.com.
About Wallace Properties, Inc.
Serving Western Washington since 1977, Wallace Properties, Inc. offers a complete spectrum of real estate services, providing commercial leasing and sales, property management, and real estate acquisition, syndication, and development services all under one roof.
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