SPANAWAY– Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Spanaway Court, a 24,064-square foot office property located in Spanaway, WA, according to Joel Andrew Deis, regional manager of the firm’s Seattle office. The asset sold for $2,400,000.
Matthew Herman and Stren R. Lea, investment specialists in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the seller, a private investor. Spanaway Court is located at 18407 Pacific Ave S in Spanaway, WA. Built in 1985, the property consists of 24 condominium units with a mix of office and retail-oriented tenants. The property was 91.4% occupied at time of sale.
About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.