Anchor Health Inks Expansion at Seattle-Area MOB

January 30, 2024

Medical Office Brokerage News SeattleMoreWest

One of the tenants has committed to the first floor of the 83,000-square-foot building.

EvergreenHealth has renewed and expanded its lease at Woodlands Medical Plaza in Bothell, Wash. The health-care provider has now committed to 26,000 square feet and will occupy the first floor of the three-story, 83,000-square-foot building owned by Anchor Health Properties.

Senior Vice Presidents Todd Battison and Keith Honsberger, alongside Executive Vice President Gary Guenther with Kidder Mathews represented the owner. CBRE worked on behalf of the tenant.

Anchor Health acquired the asset for $31.5 million in 2018 from SteelWave, CommercialEdge data shows. The medical center, converted from an office building, is also currently subject to a loan provided in 2022 by Capital One, with a maturity date set for 2029.

EvergreenHealth provides a range of medical services within the clinic, such as preventive care, orthopedic care, gynecological care, newborn and pediatric care and lab services.

Completed on 6.5 acres in 2007, the LEED Silver-certified building features 28,300-square-foot floorplates. The facility has two passenger elevators, controlled access, on-site showers and locker rooms and 298 car spots at a parking ratio of 3.5 spaces per 1,000 square feet. The property’s tenant roster includes Pacific Medical Centers and Western Washington Medical Group, among others.

Woodlands Medical Plaza is some 20 miles north of downtown Seattle at 1909 214th St. SE, having access to U.S. Route 527 and Interstate 405. Other medical providers in the surrounding area include MultiCare Indigo Urgent Care, Bothell Health Care and Pacific Institute of Medical Sciences.

Other Anchor Health investments

Anchor Health kicked off 2024 with the acquisition of a three-building medical office portfolio in the Seattle and Charlotte, N.C., markets. The $62 million deal closed in a joint venture with Australian Retirement Trust.

At the end of last year, the company also broke ground on HonorHealth Medical Campus at Peoria, a 100,000-square-foot medical office center some 20 miles from downtown Phoenix. The project is slated for completion in 2025.