Home Commercial Private Investor Purchases Former Comprehensive Mental Health Center of Tacoma for $13.4MM

Private Investor Purchases Former Comprehensive Mental Health Center of Tacoma for $13.4MM

By Meghan Hall

Comprehensive Life Resources, formerly known as Comprehensive Mental Health, has sold off its former health center in Tacoma for $13.415 million, according to Pierce County public documents dated May 8th. The buyer is 3W 1301 Tacoma LLC, an entity associated with Jeffrey Mincheff of La Center, Wash.

The property, located at 1305 Tacoma Ave. S., is located off of Interstate 705 and Interstate 5 near Commencement Bay in a commercial part of town with many shops and restaurants. Major employers such as U.S. Oil & Refining and Washington United Terminals operate nearby. The site is near the University of Washington Tacoma Campus, Tacoma Center YMCA, Happy Belly Restaurant & Juice Bar and Tacoma Brewing Company.

According to Google Maps, the building is three levels of office over one level of ground floor parking. The deal included two parcels, valued at just over $15 million, according to public documents. The larger parcel, whose site address includes 1301 to 1313 Tacoma Ave. S., is home to a 153,600 square foot Class B office, originally constructed in 1960. It is the only building on the parcel, according to Pierce County Assessor’s data.

The Tacoma office market remains healthy, according to a first quarter office report released by Kidder Mathews. At the end of the first quarter of 2019, the vacancy rate in Tacoma was 6.5 percent, a slight increase from the end of 2018, when the vacancy rate was 5.99 percent. Vacancy in Tacoma’s Central Business District jumped to 9.5 percent from 6 percent last year, but despite this increase, rental rates in Pierce County rose to $24.26 per square foot per year. Sales activity was slow during the first quarter, with no office investment sales over $10 million, and only one over $2 million. However, Kidder Mathews predicts a resurging CBD aided by retail, residential and convention center expansion. And with no new office projects on the horizon, vacancy is expected to stabilize or decrease.

Comprehensive Life Resources, based in Tacoma, is a private, non-for-profit community mental health agency that offers an array of services from substance abuse help to young adult shelters. The organization has three offices located in and around Tacoma on Proctor St., Olympic Drive in Gig Harbor and on State Route 704 in Spanaway. According to Comprehensive Life Resources’ site, the Tacoma S. Ave. site offered adult counseling and peer support, homeless outreach, supported employment, gang prevention, substance abuse services and an on-site pharmacy.