Marcus & Millichap Arranges the Sale of an 18,314-Square-Foot Office Building in Washington

AUBURN, WA, May 12, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Former Cascade Orthopaedics Building, a 18,314-square foot office property located in Auburn, WA, according to Joel Deis, regional manager of the firm’s Seattle office—the asset sold for $7,250,000.

Anne Moxon and RJ Vara, investment specialists in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.   

Former Cascade Orthopaedics Building is located at 122 3rd St NE in Auburn, WA.  The property features an extensive medical build-out that served its previous tenants for 18 years. Constructed in 2006, the property features a highly specialized medical build-out that supported its previous tenants for 18 years. The medical office is strategically located along Auburn Avenue and benefits from 94 dedicated parking stalls—an exceptional amenity in a market where parking is often limited. Surrounded by dense residential neighborhoods and positioned within a well-established medical corridor, the property offers an ideal location for a range of medical practices. “Notably, it achieved a record price per square foot for a vacant medical office in the submarket,” said RJ Vara. The property was delivered vacant at closing.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.