7210 40th St W
University Place, WA 98466
Everwood Medical Center · Office Property For Sale

The Stren Lea Group at Marcus & Millichap is pleased to exclusively offer for sale Everwood Medical Center ("the Property"), a Class A medical office building located in University Place, Washington. Built in 2005, the Property totals 18,627 rentable square feet and is 100% leased to two tenants, CHI Franciscan Health and Light Dental Studios, on three triple-net leases. Occupying 76.0% of the rentable square footage, CHI Franciscan Health is a wholly owned subsidiary of Catholic Health Initiatives ("CHI"). In 2019, CHI merged with San Francisco-based Dignity Health to become CommonSpirit Health, the third largest nonprofit health system in the nation offering care in 21 states through 142 hospitals and more than 700 care sites. The remaining 24.0% of the Property is leased and occupied by Light Dental Studios, a full service dental practice with 15 locations throughout the South Puget Sound. Bordering Tacoma, Washington to the south and Lakewood, Washington to the northeast, University Place is home to 33,401 residents and acts as a popular neighborhood living option for the greater Tacoma area. As the 15th largest Metropolitan Statistical Area in the United States, the Seattle-Tacoma-Bellevue MSA enjoys a vibrant and dynamic economy with strong ties to the tech, finance, and import/export industries. To access the OM, please visiting the listing website: https://www.crexi.com/properties/350473/washington-everwood-medical-center