Marcus & Millichap has successfully brokered the sale of the former Cascade Orthopaedics building, an 18,314-square-foot medical office property located at 122 3rd St NE in Auburn, Washington. The asset was sold for $7.25 million.
Anne Moxon and RJ Vara, investment specialists in Marcus & Millichap’s Seattle office, exclusively represented the seller, a limited liability company, in the transaction.
Constructed in 2006, the property boasts a highly specialized medical build-out that supported its former tenants for 18 years. It is strategically situated along Auburn Avenue and includes 94 dedicated parking stalls—an outstanding feature in a market where parking availability is often limited.
“The property achieved a record price per square foot for a vacant medical office in the submarket,” noted RJ Vara. The asset was delivered vacant at closing.
