Sterling Realty Sells Lynnwood Crossroads Shopping Center Located Outside Seattle for $45 Million

Lynnwood, Wash. — Sterling Realty Organization has sold Lynnwood Crossroads, a grocery-anchored shopping center located roughly 16 miles north of Seattle in Lynnwood, for $45 million. Pete Bethea, Glenn Rudy and Rob Ippolito of Newmark represented the buyer, Sakioka Farms, in the all-cash 1031 exchange transaction. Billy Sleeth and Paul Sleeth, also of Newmark, represented the seller. The 103,141-square-foot property was fully occupied at the time of sale by tenants including Sprouts Farmers Market, LA Fitness, Starbucks Coffee, Jersey Mike’s Subs, Five Guys, The Joint Chiropractic, Great Clips and Qdoba.