For Sale: Offers Requested :: 100% Leased Medical Office Building in Northern Seattle

Offers requested by Friday, February 16th, 2018 – 5:00 Pm Pst


CBRE’s U.S. Healthcare Capital Markets Group is pleased to exclusively offer the opportunity to acquire the Edmonds Medical Center (the “Property”). The Property is a two-story, 54,516 rentable square foot medical office building located near the Swedish Edmonds hospital campus in Edmonds, Washington. The Edmonds Medical Center was constructed in 1991 and was expanded and renovated in 2007 to accommodate more room for additional medical services.

The Property is 100% leased to a variety of healthcare provider tenants with outpatient specialty practices that include podiatry, physical therapy, ophthalmology, family medicine, surgery, chiropractic, pain management, cardiology, pulmonary/asthma, and a pharmacy. The Property has an average remaining lease term of 7.8 years with only one tenant’s term scheduled to expire in the next five years, providing a new owner with a stable and long-term cash flow for the foreseeable future.

Investment Highlights

  • Anchored by Leading Physician Practice
  • Physician Practice Acquisition by Virginia Mason Health System (Moody’s Baa2, S&P BBB)
  • 12% Leased by Investment Grade Health System Tenant – Providence Health & Services (Moody’Aa3, S&P AA-, Fitch Ratings AA+)
  • Measured Exposure with a Stable, Growing Cash Flow
  • Building Expansion and Large Capital Investment by Tenant
  • Diverse, Synergistic Tenant Specialty Mix
  • Highly Accessible, Amenity Rich Location
  • Excellent Parking Ratio
  • Appealing Healthcare Trends
  • Delivered Free and Clear of Existing Debt

Contact Information

CBRE U.S. Healthcare Capital Markets Group

Chris Bodnar
Vice Chairman
+1 303 628 1711
Lee Asher
Executive Vice President
+1 404 504 5965
Ryan Lindsley
Senior Director
+1 303 628 1745

CBRE Puget Sound Healthcare Properties Team

Paul Carr
Senior Vice President
+1 206 292 6005
Steve Perovich
Senior Vice President
+1 206 292 6059
Marcus Yamamoto
First Vice President
+1 206 292 6062

CBRE Debt & Structured Finance

Greg Greene
Senior Vice President
+1 214 979 5617


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