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Kidder Mathews Arranges $18.5M Sale-Leaseback of Bellevue Healthcare Center

The Pacific Cataract and Laser Institute has sold its building at 2606 116th Avenue Northeast in Bellevue, Washington, to First Citizens Bank in a sale-leaseback for $18.5 million. Kidder Mathews EVP Jeff Chaney represented Pacific Cataract in selling the Class A office space, which the company purchased for $13.5 million in 2017.

The institute will lease back 15,522 square feet on the first floor of the 33,155-square-foot building, ensuring its ongoing presence at the location. β€œWe are thrilled to have played a key role in helping Pacific Cataract and Laser Institute achieve their goals in this transaction,” said Chaney. β€œThe sale-leaseback arrangement with First Citizens Bank will allow Pacific Cataract to focus on their core business operations, while also unlocking valuable capital for strategic initiatives.”

The property is situated just north of the Bel-Red Corridor, between the 405 and 520 freeways. It is minutes from retail attractions, Downtown Bellevue, and the new Spring District.


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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.