Sound Credit Union, a Tacoma, Washington-based credit union, announced that it purchased a medical outpatient building (MOB) occupied by Sound Physicians for $15.75 million.
Built in 2003, the five-story MOB comprises 54,500 square feet and is based in Tacoma, Washington. The MOB’s occupancy increased from 60% to 83% over an undisclosed two year period. The price is $289 per square foot.
Sound Credit Union was represented by Harrison Laird of Lee & Associates. Bruce Valentine of Neil Walter Co. represented the seller, a group of private investors that includes Korum Automotive Group President John Hall.
The press release notes that the purchase price is more than double what the MOB sold for two years ago, when it was acquired by Umpqua Bank for $6.9 million in a foreclosure sale.
According to data captured in the LevinPro HC database, this transaction marks the 147th MOB deal of the year. So far, MOBs account for slightly more than 10% of all healthcare transactions that have been reported in 2025. There were 213 MOB transactions announced in 2024, and 199 announced in 2023. This deal also marks the second MOB to be purchased in Washington since the start of the year.
