OAK HARBOR, WA, November 11, 2021 – 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 Beach View Plaza, a 25,399-square foot office property located in Oak Harbor, WA, according to Joel Deis, regional manager of the firm’s Seattle office. The asset sold for $3,771,000.
Brian Mayer 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.
Beach View Plaza is located at 275 SE Pioneer Way in Oak Harbor, WA. A 25,399 square foot, government-anchored professional plaza in the waterfront district of picturesque Oak Harbor, Washington. The property is 92.4% occupied with 62.9% of the property leased to Washington State government entities and 27.3% to People’s Bank. Prior to closing, Washington State Department of Social & Health Services (DSHS) extended their lease for 5 years, demonstrating their commitment to this essential location.
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.