TACOMA, WA, December 11, 2020 – 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 James Center Plaza, a 33,375-square foot office property located in Tacoma, WA, according to Joel Andrew Deis, regional manager of the firm’s Seattle office. The asset sold for $6,900,000 (just under $207 per square foot).
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 limited liability company. James Center Plaza is located at 1628 S Mildred St in Tacoma, WA. Built in 1997, the property houses mostly longstanding medical-dental tenants who service the surrounding suburban market. At time of sale, the property was 78.1% occupied.
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 9,726 transactions in 2019 with a value of approximately $50 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.