Description
Marcus & Millichap's Brown Retail Group has been selected exclusively to market for sale MultiCare + AON, a fully leased medical office building located in west Olympia, WA, just minutes from the region's two largest hospitals— MultiCare Capital Medical Center and Providence St. Peter. The property is 100% occupied by MultiCare and American Oncology Network (AON), offering stable cash flow with strong credit tenancy and long-term medical demand drivers. MultiCare recently expanded with a new 3-year lease for Suite 201, increasing its occupancy to nearly 48% of GLA, while AON executed a new 5-year lease extension, further strengthening the tenancy profile. All leases include 2.0%–3.0% annual rent increases, providing consistent income growth and inflation protection. Priced at a 7.30% cap r