Mar 5, 201301:58 PMBlog
Olympia owner for Allenmore building
Olympia’s Berschauer Group has purchased the Allenmore B medical office building in Tacoma from Unico Properties. The property is 85 percent occupied with MultiCare as the largest tenant, along with other local specialty clinics, doctors, and dentists.
Following the sale of its Union & Madison multi-family project in Seattle’s Capitol Hill neighborhood, Berschauer had been looking for new investment opportunities.
“While Allenmore B is simply a good income investment, we are looking forward to a long term position in Tacoma’s medical markets and building a solid relationship with MultiCare,” said Pat Berschauer, chairman & CEO of the new ownership.
The seven-story concrete medical office building further diversifies Berschauer’s holdings with income-producing real estate that demonstrates strong value-add potential.
“In acquiring this building,” added Pat Berschauer, “we expand into Tacoma’s wider healthcare market and gain greater access to the market’s tenant activity.”
The company is not new to the Tacoma healthcare markets. In 2010, two of its executives developed and constructed a 26,250 square foot medical building for Pacific Northwest Eye. A second 30,000 square foot medical building is planned across from the Hospital Campus at 19th Street and Lawrence Avenue.
Ryan Clintworth will be leading operations at Allenmore B for Berschauer Group. Neil Walter Company of Tacoma has been hired as Property Manager. Bill Frame with Kidder Mathews will continue as the property leasing broker.