Tacoma offices sold for $17M

Seattle Daily Journal of Commerce

Posted In — News & Press | In the News

TACOMA – An office building at 4301 S. Pine St. in Tacoma has sold for $16.6 million, according to Pierce County records.

The seller was TMTPI LLC, associated with Transpacific Investments of Lake Oswego, Oregon, which acquired the property in 2006 for $12 million.

The buyers were M&M Tacoma Investments IV LLC and 3W TMOB Partners LLC, which are associated with Portland-area investor Jeffrey Mincheff.

Will Frame of Kidder Mathews‘ Tacoma office had the property listed on behalf of the seller for $15.9 million.

Developed on 4.4 acres in 1971, the six-story Class B building has 115,575 rentable square feet, according to KM. Tenants include the Armed Forces Career Center, Kaiser Permanente, the city of Tacoma, Guild Mortgage and Western Commercial Mortgage.

Generally called the Tacoma Mall Office Building, the building is northwest of Tacoma Mall, but not part of the mall.

The 85-acre mall itself will be redeveloped by owner Simon Property Group. However, the office building lies within the city of Tacoma’s 575-acre proposed Regional Growth Center, which allows new buildings up to 120 feet.

No new plans have been filed for the property, other than zoning verifications from Mincheff and others.

Last September, a Mincheff-related LLC paid $17 million for a century-old office building in downtown Tacoma.

For the full story, go to Seattle Daily Journal of Commerce.

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