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Westgate North
Grocery-anchoredInvestment salesNewsWashington

JLL Arranges $37 Million Sale of Shopping Center in Tacoma, Washington

by Abby Cox

Tacoma, Wash. — JLL Capital Markets has arranged the $37 million sale of Westgate North, 74,789-square-foot shopping center located in Tacoma, roughly two miles from the University of Puget Sound campus. Safeway anchors the property, which was 97.9 percent leased at the time of sale. Additional tenants at the center include Anytime Fitness, Chase Bank, Taco Bell, Xfinity, Subway and Round Table Pizza. Gleb Lvovich, Geoff Tranchina and Daniel Tyner of JLL’s Investment Sales and Advisory team represented the seller. The buyer was Phillips Edison & Co.

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James Center
FinanceGrocery-anchoredNewsWashington

Gantry Arranges $21.4 Million Loan for Retail Center in Tacoma, Washington

by Abby Cox

Tacoma, Wash. — Gantry has arranged a $21.4 million mortgage for the sale of James Center, a 140,240-square-foot retail center located in Tacoma. The loan, which carries a fixed-rate 10-year term with a 30-year amortization schedule, was funded by a life insurance company. Gantry will service the loan. The property was purchased by a partnership affiliate of Bellevue, Washington-based Rosen Harbottle Commercial Real Estate. Situated on roughly 16 acres, James Center is grocery-anchored by Fred Meyer. Additional tenants at the center include Rite Aid, U.S. Bank, IHOP, Taco Bell, MultiCare …

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DevelopmentGrocery-anchoredInvestment salesNewsWashington

SimonCRE Acquires 89,002-Square-Foot Retail Center in Washington, Plans Redevelopment 

by Hayden Spiess

Spanaway, Wash. — SimonCRE has acquired an 89,002-square-foot retail center located in Spanaway, with plans to redevelop the property. Plans for the center include the addition of a grocery anchor, as well as other new tenants. According to SimonCRE, redevelopment efforts at the property will be focused on updating existing structures. 

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Nordstrom_NYC
Company newsNewsWashington

Nordstrom Family, Liverpool to Take Namesake Department Store Chain Private in $6.25 Billion Deal

by Hayden Spiess

Seattle — Nordstrom Inc. (NYSE: JWN) has signed a definitive agreement with the Nordstrom family and Mexican omnichannel retailer El Puerto de Liverpool SAB de CV (Liverpool) in a deal that will take the fashion department store giant private. The all-cash transaction is valued at $6.25 billion. Erik, Pete and Jamie Nordstrom, along with other members of the Nordstrom family, and Liverpool plan to acquire all the outstanding common shares of Nordstrom that they do not already beneficially own. The deal would give the Nordstrom family a majority ownership stake (50.1 …

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Outlet-Collection-Seattle_Auburn-Wash
GeorgiaInvestment salesNewsWashington

Lightstone Acquires Outlet Collection Seattle for $82 Million

by Hayden Spiess

Auburn, Wash. — Lightstone has acquired The Outlet Collection Seattle, an enclosed mall located in Auburn, roughly 30 miles south of Seattle. Tenants at the property, which totals 920,000 square feet, include Nordstrom Rack, Burlington, Best Buy, Dave & Busters, Polo Ralph Lauren, Kate Spade, Ulta Beauty, Coach, Nike, Adidas and Michael Kors. The mall was 98 percent occupied at the time of acquisition. Lightstone plans to implement $10 million of capital improvements and tenancy upgrades. Nicholas King, Michele Dawson and Scott Ferguson of FFO Real Estate Advisors will manage outlet …

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192nd-Plaza-Camas-WA
Investment salesNewsWashington

Marcus & Millichap Negotiates $9.6 Million Sale of 192nd Plaza Retail Property Near Portland, Oregon

by Hayden Spiess

Camas, Wash. — Marcus & Millichap has negotiated the sale of 192nd Plaza, a 34,923-square-foot retail property located in Camas, just across the Columbia River from Portland, Oregon. A limited liability company sold the property to local investors for $9.6 million. Built in 2010, the property was fully occupied by 11 tenants at the time of sale. Clayton Brown, Dylan Wolf and Ruthanne Loar of Marcus & Millichap represented the seller in the transaction.

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Pacific-Place
Investment salesNewsWashington

BH Properties Acquires 335,000-Square-Foot Mall in Downtown Seattle 

by Hayden Spiess

Seattle — BH Properties has acquired Pacific Place, a 335,000-square-foot shopping mall located in downtown Seattle. Developed in 1998 and renovated in 2019, the property features five floors of retail space and a 1,164-space parking garage. Tenants at the mall include AMC Theaters, Tiffany & Co., Din Tai Fung and Haidilao. Avison Young will manage and lease the property, which was 45 percent occupied at the time of sale, on behalf of BH Properties. 

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LeasingNew YorkNewsWashington

Kimco Adds Nine Tenants to Shopping Centers in Washington

by Hayden Spiess

Jericho, N.Y. — New York-based Kimco Realty has added nine new tenants to five of its shopping center properties throughout the state of Washington. Holiday China, Sushi Omiya, Sam Income Tax and Magikid Robotics Lab have signed leases at The Marketplace at Factoria in Bellevue and will occupy 1,121; 2,458; 832; and 1,405 square feet, respectively. Food-and-beverage tenants Taco Bell and Emerald City Smoothie will join Pavilions Centre in Federal Way and Gateway Shopping Center in Mill Creek. Taco Bell will occupy 2,680 square feet, beginning this fall, and Emerald City …

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LeasingNewsWashington

Barnes & Noble to Open 25,000-Square-Foot Store at Issaquah Commons in Metro Seattle

by Hayden Spiess

Issaquah, Wash. — Barnes & Noble has signed a 25,000-square-foot lease at Issaquah Commons, a retail center located in Issaquah, roughly 15 miles outside Seattle. Scheduled to open this fall, the new store will be situated between Sephora and Chipotle Mexican Grill. The store will include a café and feature a new layout and design. Avison Young manages and leases Issaquah Commons, which totals 373,603 square feet. Other tenants at the property include Safeway, Target, Trader Joe’s, REI, Athleta, WildFin American Grill, Panera Bread, Tutta Bella Neapolitan Pizzeria and Just Poke. 

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Plaza-50_Kenosha-Wash
Investment salesNewsWashington

Legacy Brokers $27.6 Million Sale of Plaza 50 in Kenosha, Washington

by Hayden Spiess

Kenosha, Wash. — Legacy Realty Group Advisors has brokered the $27.6 million sale of Plaza 50, a 199,217-square-foot retail center located in Kenosha. Pick ‘N Save, Burlington Coat Factory, Marshalls and Ross Dress for Less anchor the property, which was 99 percent occupied at the time of sale. Jacob Baruch, Daniel Baruch and Jonah Warshaw of Legacy represented both the buyer and seller in the transaction. 

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