Sea Mar Community Health Centers, a Seattle-based provider of comprehensive health and human services in Washington state, has purchased University Plaza, a 22,500-square-foot office property in Vancouver, for $5.15 million.
Located at 14508 NE 20th Avenue, University Plaza is in close proximity to Kaiser Permanente and Washington State University Vancouver.
NAI Norris, Beggs & Simpson Associate Vice President Doug Bartocci represented the seller, FFLP MTH LLC. Brian Petro of Horizon Real Estate Group represented Sea Mar.
Bartocci said that office sales in Vancouver have increased significantly in the past year due to a tightening market with low interest rates and low inventory.
“With quality, existing medical space available, and the ability to move-in quickly, University Plaza was an obvious choice for Sea Mar Community Health Centers,” said Bartocci.
This isn’t the first major real estate purchase for Sea Mar in Clark County. Last may, the organization purchased a building at Hiddenbrook Terrace for approximately $2 million.
