After it was recently completed in 2021, DaVita Corporate Business Headquarters was sold in a lease-back transaction worth $93.5 million, or about $582 per square foot. According to King County records, the building has been purchased by an entity associated with Atlanta-based capital markets company Truist Securities. The seller in the transaction is Genesis KC Development, of which DaVita is a parent organization.
The office building is located at 3201 S 323rd Street in Federal Way, Wash., and totals 160,493 square feet. Reaching three feet tall, the building is situated on more than 11 acres. According to a former listing for the property by Stan Johnson Company, the property was previously offered at just over $101.5 million.
The building provides office space to DaVita, a global company providing renal care to patients around the world. In total, DaVita serves more than 200,000 patients and is located in 11 countries outside of the United States.
The new headquarters building is located within the Federal Way Business Park. With the property’s close proximity to Interstate 5, the property is easily accessible to the DaVita Federal Way Community Dialysis Center at 1015 S 348th Street.
The recent sale makes for one of the largest transactions the Federal Way community has seen in the last several months. In a transaction that closed earlier in May, SecureSpace purchased Storage Star, a 92,244 square-foot self-storage asset, located at 34202 16th Avenue South. The property was purchased for $21.5 million, or about $92,244 per unit. Prior to that in October, KKR acquired the Courtyard Marriott Federal Way, located at 31910 Gateway Center Boulevard, for $25.4 million.