While the local economy has taken some heavy blows recently, such as the departure of Boeing and the decline of dot-coms, the real estate market remains healthy if a recent John L. Scott Real Estate development is any indication.
A new 7,000-square-foot, 2-story office building is being constructed at 4420 6th Ave. in Tacoma, adjacent to the current John L. Scott office.
Ground was broken on the project last week, with the new office scheduled to be completed in September.
The building is owned by Robert Merriman and Debbie Anderson, who have owned the office since 1983, converting it to a John L. Scott franchise in 1991.
John L. Scott will occupy approximately 6,000-square-feet, with the remainder of the building will be occupied by Soundview Mortgage and Professional Management, which is also owned and operated by Merriman and Anderson.
Six-to-eight mortgage representatives from Soundview Mortgage will be on-site, Merriman said.
The need for the new office space is meant to accommodate John L. Scotts growth and to allow for future expansion, Merriman said.
The current office holds approximately 35 agents and the new facility will accommodate at least 60.
Theyve outgrown that office, said Shelley Rossi, director of public relations for John L. Scott, noting the company is expecting future growth. Theyre bursting at the seams.
According to Merriman, the building is appraised at $1.2 million, with construction costs of approximately $900,000, plus the cost of the land.
The building has been custom designed by local architect Robert E. Merriman, and is being built by local contractor Westmark Construction, Inc.
ABOUT JOHN L. SCOTT REAL ESTATE:
John L. Scott Real Estate was founded in 1931 and is currently led by third generation chairman and CEO, J. Lennox Scott.
John L. Scott has 110 offices and over 2,800 sales associates located throughout Washington, Oregon and Idaho.
The award-winning Web site, www.johnlscott.com, receives over 50 million hits per month, including 425,000 unique visitors.