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Olympia investment group buys Allenmore medical building

Post by John Gillie / The News Tribune on March 5, 2013 at 1:45 pm |
March 5, 2013 1:48 pm

An Olympia-based real estate investment group has acquired a major medical office structure near Tacoma’s MultiCare Allenmore Hospital.

Berschauer Group announced Tuesday it has purchased the seven-story Allenmore Medical Office Building B at 1901 S. Union Ave. from Unico Properties. The price for the nearly 100,000-square-foot building was not disclosed.

Allenmore Medical Building B
Allenmore Medical Building B

The structure,  constructed in 1976, is 85 percent occupied. The major tenant is MultiCare Health System, which owns the adjacent Allenmore Hospital.

The reinforced concrete building is listed on Pierce County tax rolls as having a taxable value of $7.3 million. That value is down from the building’s peak value of $13.95 million in 2010.

The real estate investment company said it is looking forward to a long and productive relationship with MultiCare.

The acquisition is not the first healthcare venture for Berschauer in Tacoma.  The company developed and constructed a 26,250-square-foot building for Pacific Northwest Eye at 3602 South 19th near Allenmore in 2010.  The company has plans to building a 30,000-square-foot medical building near the hospital at South 19th Street and Lawrence Avenue.

 

 

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