Washington

NorthMarq Secures $2.5 Million Acquisition Financing for Retail Property in Metro Seattle

by Katie Sloan August 8, 2022

Woodinville, Wash. — NorthMarq has secured $2.5 million in financing for the $6.9 million acquisition of Hilltop Retail Center, a 15,094-square-foot property located roughly 20 miles northeast of Seattle in Woodinville. The center was constructed in 2008 at 15610 Woodinville-Duvall Road and was fully leased at the time of sale. Bob Spiro and Scott Moline of NorthMarq secured the permanent-fixed loan, which features a 20-year term, on behalf of the undisclosed borrower through a life insurance company.

August 8, 2022

Finance Investment sales News Washington

Crescit Capital Secures $21.8 Million Acquisition Loan for 220,000-Square-Foot Retail Property in Metro Seattle

by Katie Sloan May 17, 2022

Marysville, Wash. — Crescit Capital Strategies has secured a $21.8 million fixed-rate bridge loan for the acquisition of a shopping center located in Marysville, roughly 34 miles north of Seattle. A private seller sold the center to a private buyer for an undisclosed price. Crescit originated the four-year loan with a one-year extension option. The lender was not disclosed. The grocery-anchored property features 220,000 square feet of retail space.

May 17, 2022

Investment sales News Washington

Bridge33 Capital Sells 166,800-Square-Foot Retail Property in Washington for $18.4 Million

by Katie Sloan April 29, 2022

Mount Vernon, Wash. — Bridge33 Capital has completed the $18.4 million disposition of Skagit Valley Square, a 166,800-square-foot power center located at 102-310 E. College Way in Mount Vernon, to Transnational Management. Dino Christophilis and Daniel Tibeau of CBRE’s Seattle office brokered the transaction. Formerly anchored by Albertsons, G.I. Joe’s and Rite Aid, the property was recently backfilled with a new tenant roster including Hobby Lobby, Tractor Supply, Goodwill and Dollar Tree.

April 29, 2022

Finance News Washington

IPA Arranges $23.4 Million Acquisition Loan for Park Place Retail Property in Metro Seattle

by Julia Sanders March 7, 2022

Tukwila, Wash. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged a $23.4 million acquisition loan for Park Place, a regional strip center in Tukwila, about 12 miles from Seattle. Ray Allen of IPA’s Seattle office secured the 10-year financing, which features a loan-to-value ratio of 65 percent and a 3.5 percent interest rate. Built in 1996, the property features 153,454 square feet of retail space, and is located at 17501 Southcenter Parkway. Current tenants include JoAnn Fabrics, K&G, HomeGoods, Ashley Homestore and PetSmart. The buyer …

March 7, 2022

Leasing News Washington

Marcus & Millichap Negotiates Sale-Leaseback of 46,000-Square-Foot Great Floors-Occupied Property in Eastern Washington

by Julia Sanders March 7, 2022

Spokane Valley, Wash. — Marcus & Millichap has arranged the sale-leaseback of a retail property located at 13708 E. Indiana Ave. in Spokane Valley. A limited liability company sold the property to a California-based 1031 exchange buyer for $8 million. Great Floors occupies the 46,000-square-foot property on a net-lease basis. This is the fourth Great Floors property to close in a series of five sale-leaseback transactions in Washington and Idaho. Clayton Brown, Christopher Edwards and Ruthanne Romero of Brown Retail Group in Marcus & Millichap’s Seattle office represented the seller …

March 7, 2022

Faris Lee Investments Nevada News Washington

Faris Lee Arranges Sales of Two Grocery Stores in Nevada, Washington for $22.4 Million

by Julia Sanders February 10, 2022

Henderson, Nev. and Millwood, Wash. — Faris Lee Investments has brokered the $22.4 million sales of two single-tenant grocery stores totaling 106,254 square feet in Nevada and Washington. Jeff Conover and Scott DeYoung of Faris Lee Investments represented the undisclosed buyers and seller, a Southern California-based family private office, in the deals. The transactions included the disposition of a 58,254-square-foot Albertsons property in Henderson, roughly 16 miles outside Las Vegas; and a 48,000-square-foot Safeway in Millwood, roughly 8 miles outside Spokane.

February 10, 2022

Finance News Washington

Gantry Arranges $190 Million in Financing for Carillon Point Mixed-Use Property Near Seattle

by Julia Sanders September 21, 2021

Kirkland, Wash. — Gantry has arranged a $190 million loan to recapitalize the Carillon Point mixed-use campus in Kirkland. Mike Taylor and Patrick Taylor of Gantry’s Seattle office secured the 15-year loan, which was placed with Principal Real Estate Investors. The name of the borrower was not released. Fronting Lake Washington, the 26-acre property features a mix of Class A office space, a boutique hotel, retail space and a 200-slip marina. Carillon Point totals six buildings and offers 440,000 square feet of mixed-use space, including the 100-room hotel.

September 21, 2021

Investment sales News Washington

Marcus & Millichap Negotiates $5.8 Million Sale of Retail Property in Metro Seattle

by Julia Sanders September 3, 2021

Everett, Wash. — Marcus & Millichap has arranged the sale of a retail center located at 811 S.E. Everett Mall Way, roughly 25 miles north of Seattle in Everett. A limited liability company sold the center to an undisclosed buyer for $5.8 million. Trader Joe’s, Dollar Tree, T-Mobile and Olympic Hot Tub occupy the 24,800-square-foot retail property. Trader Joe’s has been at this location for more than 25 years and recently extended its lease. Clayton Brown and Ruthanne Romero of Brown Retail Group of Marcus & Millichap represented the seller …

September 3, 2021

Company news News Washington

WSJ Report: Amazon Plans New Department Store Chain

by Julia Sanders August 20, 2021

Seattle — Amazon, the Seattle-based e-commerce giant, is planning to open a chain of department stores to boost its sales in clothing, household items, electronics and other areas. The news comes from a Wall Street Journal report citing “people familiar with the matter.” The first stores are expected to open in Ohio and California and, at around 30,000 square feet, will be smaller than a typical department store. “It is unclear what brands Amazon will offer in the stores, although the company’s private-label goods are expected to feature prominently,” the …

August 20, 2021

Investment sales News Washington

CBRE Arranges $28.8 Million Sale of Kohl’s-Anchored Retail Center in Vancouver, Washington

by Julia Sanders July 26, 2021

Vancouver, Wash. — CBRE has arranged the sale of Hazel Dell Towne Center, a 264,000-square-foot Kohl’s-anchored power center located in Vancouver to Transnational Management for $28.8 million. Philip Voorhees, Jimmy Slusher, James Tyrrell, Dino Christophilis and Daniel Tibeau of CBRE represented the seller, a partnership managed by Pine Tree, in the transaction. Located at 8801 N.E. Hazel Dell Ave., Hazel Dell Towne Center is 87 percent leased to tenants including Office Depot, Petco, Party City, Gold’s Gym, Craft Warehouse, America’s Best and Massage Envy. The property is also shadow-anchored by …

July 26, 2021

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