Newmark, a leading commercial real estate firm, recently facilitated the sale of 4000 Columbia House Boulevard in Vancouver, Washington. The Class A office building was sold for $21.1 million at a rate of approximately $478 per square foot. This marks the third institutional office deal to exceed $20 million in Oregon and Washington so far this year.
The undisclosed seller was represented by Newmark’s Vice Chairman Nick Kucha, Senior Managing Director James Childress and Associate Director Jakob Nicholls. The property was acquired by T & T Hospitality Services Inc., based in Colorado as part of a 1031 exchange using proceeds from a hotel sale.
According to Nicholls, “We are pleased with securing an out-of-state buyer for this exceptional office asset fully leased to one of the strongest tenants in Vancouver.”
Built in 2018 and spanning over 44,100 square feet ,the property is situated within Vancouver’s Lower Grand Employment Area which includes two prominent commerce locations – Grand Central Shopping Center and Columbia Business Center.
This transaction further demonstrates Newmark’s expertise and success within the commercial real estate market as it continues its growth trajectory across various regions nationwide.
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