March 4, 2022 (Tacoma, WA) – Lee & Associates Commercial Real Estate Services is pleased to announce that the Wedge Building at 4733 Tacoma Mall Boulevard, has been sold to King Lasik/K2 Vision as their latest expansion in the Puget Sound area. Doors opened to their new top-floor vision center on March 1st, following the closing of the $5.5M transaction’s in December. The off-market sale of the 10,546 SF building was at $522 per square foot.
“We are excited to see King Lasik and K2 Vision expand in the South Sound with a new pre-op and post-op center. The Wedge Building is an iconic office building in Tacoma, strategically located between the Tacoma Mall and I-5. It will provide the tenant with unrivaled visibility and access”, Harrison Laird stated. Laird and John Bauder of Lee & Associates Commercial Real Estate Services represented the Buyer; Jeremiah Durr of First Western Properties represented the Seller, D&B Wedge Development LLC, in the transaction.
Laird noted that “commercial building sales activity in the Tacoma submarket has drastically increased over the past 12 months. This increase included a significant spike in investment from investors located outside of Tacoma. “Regional and national investors represented the majority of these sales, a shift from prior years.” According to CoStar, the nation’s largest commercial real estate data aggregator, “sales volume in the Tacoma submarket over the past 12 months sits at $123 million, compared to the five-year average of $42.3 million.”
K2 Vision specializes in refractive lens exchange surgery (RLE). King Lasik is the Northwest’s leading laser vision correction practice with offices serving Lynnwood, Redmond, Tukwila, Tacoma, Ridgefield and Kennewick WA and Tigard OR. Their move to the Wedge Building represents a bigger influx of tenants into the Tacoma Mall area, including incoming Jersey Mike’s and Chipotle’s drive-thru concept dubbed Chipotlane, following the 2021 arrivals of the Nordstrom Rack, Ulta Beauty and Total Wine & More.
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Lee & Associates is a commercial real estate brokerage, management and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment and appraisal to meet the specialized needs of our clients.