410 Professional Center REO

Property Overview

410 Professional Center is a 14,063 SF unanchored multi-tenant retail and office building located at 28719 410 Hwy E in Buckley, WA, built in 2007.

Challenge

Our team was engaged to sell a bank-owned (REO) property on behalf of Columbia Bank. REO dispositions carry a distinct set of complications: the seller is an institution with specific approval requirements, the asset has often been through financial distress, and buyers must be comfortable with the as-is nature of the sale. The asking price was set at $1,500,000, and the assignment required finding a qualified buyer willing to transact on those terms.

Action

We brought the property to market as an on-market investment offering, targeting buyers capable of acquiring a multi-tenant retail and office asset in a smaller community market. Our team managed the marketing process, coordinated due diligence access, and worked through the institutional requirements of a bank-owned sale to keep the transaction moving toward close.

Result

• Sold the property on behalf of Columbia Bank in an REO disposition
• Final sale price: $1,180,000 ($84 per SF)
• Successfully identified and closed with a qualified buyer, completing the bank's disposition objective