**Downtown Tacoma Office Building Changes Hands in $2.7M Deal**
A downtown Tacoma office building has sold in the city’s first office transaction exceeding $2 million this year. The property, located at 1142 Broadway, changed hands in an off-market deal for $2.7 million in mid-June. The sale price reflects a 30% discount from its assessed value of $3.9 million.
Brokers Harrison Laird and John Bauder of Lee & Associates represented the buyer in the transaction. The three-story, 1916-era building totals approximately 28,460 square feet. According to Laird, the property was acquired as an investment by the new ownership group.
“Companies and investors are using extreme caution, remaining focused on their core competencies and strategic investments,” said Laird. “This uncertainty has extended anticipated office vacancy trajectories both higher and longer with a peak expected in mid-2026.”
The building is located in a thriving part of downtown Tacoma, surrounded by restaurants, shopping venues, and cultural attractions. The property is also within close proximity to the Convention Center, several museums and theaters, as well as the University of Washington Tacoma campus.
The sale marks a significant transaction in Tacoma’s evolving commercial real estate landscape, highlighting continued investor interest despite broader market challenges.
