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Griffin-American Healthcare REIT IV Acquires MOB Near Seattle
Griffin-American Healthcare REIT IV, Inc., acquired a roughly 55,000-square-foot medical office building in the Seattle suburb of Edmonds, WA for $23.5 million. The asset was acquired from Edmonds Professional Center, LLC, an unaffiliated third party that was represented by CBRE’s Chris Bodnar and Lee Asher.
Griffin-American Healthcare REIT IV’s Stefan Oh says, “Edmonds Medical Office Building is strategically located within a thriving medical corridor in Greater Seattle, and is fully leased to multiple tenants, including some of the largest health systems in the region.”
The MOB was 100% leased to nine tenants, including Virginia Mason Health System, which leases approximately 60%, and Swedish Health Services, which leases roughly 12%. Swedish Health is a member of Providence St. Joseph Health, the largest not-for-profit healthcare provider in the Greater Seattle area.
Built in 1991, the property underwent an extensive renovation and expansion in 2007 that enlarged the building by nearly 14,000 square feet.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
