The Pacific Cataract and Laser Institute has successfully sold its Bellevue, Washington building for $18.5 million in a sale-leaseback arrangement with First Citizens Bank. The Class A office space, previously purchased by the institute for $13.5 million in 2017, was represented by Kidder Mathews EVP Jeff Chaney.
Under the terms of the deal, Pacific Cataract will continue to occupy 15,522 square feet on the first floor of the 33,155-square-foot building. This strategic move allows them to focus on their core business operations while also unlocking valuable capital for future initiatives.
Located just north of Bel-Red Corridor and between major freeways 405 and 520, this property offers convenient access to retail attractions as well as Downtown Bellevue and the new Spring District development. Chaney expressed his satisfaction with playing a key role in facilitating this transaction that helps achieve Pacific Cataract’s goals.
