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Fred Hutch Cancer Center Buys $18M Federal Way Office Building
Fred Hutchinson Cancer Center has completed the $18 million acquisition of a former DaVita office building in Federal Way.
Realty Income sold the building, which it acquired from Weyerhaeuser for $19.8 million in 2012. The 87,617-square-foot property is located at 32275 32nd Ave. S., reported the Puget Sound Business Journal. The 10.3-acre site includes 632 parking spaces.
John Bauder, Harrison Laird, Alex Muir and Stuart Williams of Lee & Associates represented Realty Income in the sale. This latest acquisition is part of Fred Hutch’s growth across the region. In 2024, the cancer center acquired the 1165 Eastlake Ave. E. lab building from Alexandria Real Estate Equities Inc. for $149 million. Fred Hutch also entered into a joint venture with ARE for a 70% interest in the Lake Union Steam Plant and Earl Davie Building.
Fred Hutch operates 10 clinical sites across the Puget Sound region, including its flagship outpatient center, Fred Hutch Sloan Clinic (formerly the South Lake Union clinic) in Seattle’s South Lake Union neighborhood.
