Value-Add CBD Office w/ Cell Tower Income 1102 Commerce St

Take advantage of this chance to acquire a modernized and well-equipped professional office building at 1102 Commerce Street in the heart of Tacoma's CBD. Currently 18% occupied by sole tenant Degrees of Change, this rare opportunity offers existing income to a user looking to enter this thriving market or a value-add investor seeking to lease the remaining vacancies. Two rooftop cell towers, currently leased by AT&T and Verizon through 2028 and 2029, generate additional income and will be conveyed with the property.

1102 Commerce Street provides a versatile Class B office tower spanning 27,401 square feet across six stories with modern infrastructure and flexible floor plans. There is an additional ±7,000 square feet of storage and equipment space between a lower level and top floor that is not included in the rentable space. The building juxtaposes a brutalist design with large, abundant windows that deliver intense natural lighting to all eight suites. Employees and clients are greeted by a landscaped entryway with a unique art installation and water feature. The property offers tenants two passenger elevators, 24-hour secure access, and prominent signage opportunities. Most suites feature a mix of private offices, conference rooms, storage spaces, and executive offices. Formerly the headquarters of Commencement Bank, the asset features a bank build-out on the first floor, providing the opportunity to secure a new banking tenant or convert the space for standard retail use. Commencement Bank has operated out of four full floors of the building for 12 years, allowing a new owner to establish new lease terms for the first time in over a decade.

Sitting just blocks from the Tacoma Spur and across the street from a recently constructed Link light rail station, 1102 Commerce Street offers unmatched convenience for commuters. The property's lot includes ±9,000 square feet under the building and an additional ±10,000 square feet of parking lot with 33 on-site surface parking spaces. Direct frontage to both the 11th and Commerce Street commuter arteries provides robust exposure to more than 11,000 passing vehicles daily. The building's highly visible pole signage makes it easy to capture the attention of this elevated traffic.

1102 Commerce Street enjoys a prominent location at the heart of Tacoma’s Central Business District, near top-quality shopping, dining, recreation, and nightlife, as well as the Broadway Street Farmer’s Market. Tenants are within walking distance of many of Downtown Tacoma’s most popular restaurants, including The Old Spaghetti Factory, Steel Creek Tacoma, Chili Thai, Fujiya Japanese, Mexico Magico Restaurant & Cantina, and many more. The surrounding area is also home to many of the city’s theaters and performing arts venues. Finding after-work entertainment is easy thanks to the nearby Pantages Theatre, Theater on the Square, Tacoma Comedy Club, and the Greater Tacoma Convention Center.

Property tours are by appointment only. Please contact the Lee & Associates team for more information.