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Sound Credit Union Acquires Tacoma Office Building for $15.75M
Sound Credit Union has completed the off-market acquisition of a prominent office building located at 1498 Pacific Avenue in Tacoma. Represented by Lee & Associates, the credit union paid $15.75 million for the property, making it the largest office building sale in the South Sound region this year.
The 55,000-square-foot, multi-tenant office building was constructed in 2004 and is one of just six such buildings in Tacoma. Positioned directly across the street from Sound Credit Union’s downtown headquarters, the acquisition will provide much-needed additional parking and office space to support the organization’s continued expansion.
“The property’s ideal location and high parking count will provide Sound opportunities for future growth and allow them to better serve their members and employees,” said Harrison Laird of Lee & Associates, who represented Sound Credit Union in the transaction.
The seller, 1498 Pacific, LLC—an entity associated with John Hall and Jerry Korum—acquired the property in September 2023 for $6.9 million. Bruce Valentine and Chris Highsmith of Neil Walter Company represented the seller in the deal.
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