Skip Ribbon Commands
Skip to main content

News release

SEATTLE, WA

Jones Lang LaSalle Closes Sale of Sunrise Medical Campus near Tacoma

Three-building campus sells for $40.2 million


​SEATTLE, Feb. 11, 2014  — Jones Lang LaSalle’s Capital Markets experts announced the sale of Sunrise Medical Campus, a three-building property totalling 98,815 square feet in Puyallup, Wash., near Tacoma.

Managing Directors Lori Hill and Stuart Williams, led the JLL team on the transaction. Legal counsel for the seller was provided by Jemima McCullum, Attorney at Law, Gordon Thomas Honeywell LLP.

“With its high occupancy rate, strong tenants and lengthy average lease term, Sunrise Medical Campus is positioned to provide the new ownership with stable net operating income for years to come,” Hill said. “When you combine these outstanding operating fundamentals with its beautiful location and the overall resiliency of the medical office sector, it’s easy to see why this was such a sought-after property.”

With Mt. Rainier as a backdrop, Sunrise Medical Campus features an array of well-established community medical service providers that offer services such as orthodontics, diagnostic testing, heart care, family medicine and allergy care. The campus currently has a 95.6 percent occupancy rate, and an average lease term of 8.3 years.

Sunrise Medical Campus is near growing residential areas and offers convenient access to MultiCare Good Samaritan Hospital and numerous retail sites, such as WalMart, Target and Kohl’s. The campus also features water fountains, a courtyard, and walkways around the buildings and the grounds.

Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2012 alone, Jones Lang LaSalle Capital Markets completed $63 billion in investment sale and debt and equity transactions globally. The firm’s dealmakers completed $60 billion in global investment sales and buy-side transactions, equating to nearly $240 million of investment trades completed every working day around the globe. The firm’s Capital Markets team comprises more than 1,300 specialists, operating all over the globe.

For more news, videos and research resources on Jones Lang LaSalle, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.

For additional information on Gordon Thomas Honeywell LLP, please visit  http://www.gth-law.com/lawyer-attorney-1225113.html.

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $4.0 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 3.0 billion square feet. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate assets under management. For further information, visit www.jll.com.