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MJR ID’s Tacoma Financial Building as Valuable for Satellite Workers
Kirkland-based MJR Development recently purchased the Tacoma Financial Building for $41.25 million. The building is located at 1145 Broadway Plaza and comprises approximately 200,000 square feet. At 15 stories, it is one of Tacoma’s tallest office towers.
This is MJR’s first foray into the Tacoma market, now part of the 1.8 million square feet of office space the firm owns across the Puget Sound region. The Tacoma Financial Building had not been sold since 2003, when it changed hands for $16.75 million. MJR is planning a full renovation including a coffee/wine bar, meeting spaces and a gym.
“The cost of living in Pierce County is far more affordable than Seattle/Bellevue and this has caused a surge in housing to be built in Pierce County, with many projects surrounding downtown,” said Mike Raskin, MJR president. “Large Seattle- and Bellevue-based employers have pinged Tacoma as a market where they would like to open a satellite office for their employees that live in Pierce County.”
Kidder Mathews’ Ben Norbe, Will Frame and Drew Frame represented MJR.
- ◦Sale/Acquisition
