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Seattle & Northwest  + Washington  + Office  | 
Newmark Completes $21M Sale of Office Building in Vancouver

Newmark Completes $21M Sale of Office Building in Vancouver

Newmark has arranged the sale of 4000 Columbia House Boulevard, a Class A office building in Vancouver, Washington. The property sold for $21.1 million, approximately $478 per square foot, marking the third institutional office deal to trade over $20 million in Oregon and Washington year-to-date.

Newmark Vice Chairman Nick Kucha, Senior Managing Director James Childress and Associate Director Jakob Nicholls represented the undisclosed seller. The Colorado-based buyer, T & T Hospitality Services, Inc., acquired the asset in a 1031 exchange using proceeds from a hotel sale.

“We are pleased with the result of finding an out-of-state trade buyer to acquire what we believe is one of the best office assets in Vancouver, fully leased to one of the strongest tenants in the market,” said Nicholls.

Delivered in 2018, the 44,100-square-foot office property is located within Vancouver’s Lower Grand Employment Area which includes two prominent existing commerce locations, the Grand Central Shopping Center and the Columbia Business Center.

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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.