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Marcus & Millichap Arranges Sale of Medical Building in Kennewick
Marcus & Millichap completed the sale of Cynergy Centre, a 20,284-square-foot medical office building in in Kennewick, Washington, for $5.1 million.
“This transaction generated multiple offers within days of hitting the market, underscoring continued demand for well-located medical office investments in the Tri-Cities,” said Ruthanne Loar, associate investments. “It was especially notable that the buyer completed a 1031 exchange out of Texas and back into Washington, reflecting continued confidence in the long-term strength of the Kennewick market.”
Loar, Clay Brown and Trevor Lane, investment specialists in Marcus & Millichap’s Seattle office, exclusively marketed the property on behalf of the seller, Cynergy Enterprises LLC, and procured the buyer, 4309 West 27th Place LLC, in an all-cash transaction.
The property is located at 4309 W. 27th Place. Built in 2006, the medical office building sits on 1.12 acres and is fully leased on triple-net terms to a diverse mix of healthcare, financial services, personal care and retail tenants.
