Alaska Airlines Signs Lease Renewal, Expansion in Seattle Suburb

Boeing Longacres. Image courtesy of CommercialEdge

Unico Properties LLC has signed a 20-year lease renewal and expansion at the Longacres Campus in Renton, Wash., with Alaska Airlines. JLL’s Kris Richey Curtis brokered the agreement on behalf of the tenant.

The airline company expanded its lease at the North Building of Longacres from 38,000 square feet to 107,000 square feet. The company will use the additional space for its flight simulation equipment and to support its simulation trainings.

The Longacres campus comprises the North and South Buildings, two class A office properties totaling 962,800 square feet. Longacres features 2,700 parking stalls, a Bright Horizon facility, a central utility plant, two ponds, a park-like campus, a running trail, an apple orchard and approximately 50 acres of developable land.

Convenient location

Longacres is a transit-oriented property at 1901 Oakesdale Ave. The 158-acre site is close to Tukwila Transit Center, which provides direct access to downtown Seattle. There’s an abundance of retail centers and dining options in the proximity of the facility. Seattle-Tacoma International Airport is only 3 miles away.

According to CommercialEdge data, Unico Properties acquired the Boeing Commercial Airplane HQ facility at Longacres from The Boeing Company in 2021 for $80 million. The acquisition loan was originated by Benaroya, the same source shows. Before closing on the transaction, Unico negotiated and signed a lease with Seattle Sounder FC, a soccer team that intends to make the South Building at Longacres its new headquarters. Work is underway at The Sounders FC Center at Longacres project, which will feature four full-size training pitches and 50,000 square feet of office space when completed in 2024.