Newmark : Awarded Leasing Assignment of Redeveloped Multi-Tenant Medical Office Building in Washington’s South King County

January 3, 2022 9:00 AM

Newmark announces it has been awarded the leasing assignment of 601 Carr, a 40,783-square-foot multi-tenant medical office building within Washington's South King County market, currently being redeveloped with a projected completion date in the Fall of 2022.

The property is located at 601 S. Carr Road within a high-traffic medical node, less than a mile from UW Valley Medical Center and ideally situated with primary access to the 167 Freeway, connecting residents across South King County. Offering flexible space options, the building will have space for lease as small as 2,000 SF and as large as 21,000 SF for medical office users.

The extensive renovation is set to include an exterior revamp beginning with the addition of a new canopy for the patient drop off and pick up area as well as an atrium to the main entrance. Additional site improvements include a new slurry seal and striping to the parking complemented with a rejuvenation to surrounding trees, shrubs, and vegetation throughout the property. Enhancements to the main lobby, elevator and floor hallways are set to include updated lighting, signage and entrances to all suites. Further improvements to vacant suites will be completed upon execution of new lease agreements. Accretive Seattle Partners will issue tenant improvement allowance, in accordance with new lease terms.

Newmark Senior Managing Director Cavan O'Keefe and Managing Director David Marks are leasing the space on behalf of the new owner and landlord, Accretive Seattle Partners, LLC.

"This will be a best-in-class medical office building that presents prospective tenants with the opportunity to occupy a modernized and upgraded space immediately," said O'Keefe. "With limited supply of quality medical space, this is a timely project to meet the medical and patient demand in the area."

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues in excess of $2.5 billion for the trailing twelve months ending September 30, 2021. Newmark's company-owned offices, together with its business partners, operate from over 160 offices with approximately 6,200 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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