Towne Square Retail Center

Marcus & Millichap Brokers $9.4 Million Sale of Towne Square Retail Center in Metro Seattle

by Julia Sanders

Port Orchard, Wash. — Marcus & Millichap has arranged the sale Towne Square Retail Center, a retail property located at 1700 S.E. Mile Hill Drive in Port Orchard, approximately 24 miles west of Seattle. A private investor sold the center to an undisclosed buyer for $9.4 million. Grocery Outlet, Goodwill and Ace Hardware are anchor tenants at the 154,604-square-foot retail property, which also includes a two-story interior mall space with more than 100 tenants. The buyer plans to renovate the property, increase occupancy levels and improve management systems. Clayton Brown and Ruthanne Romero of Marcus & Millichap represented the seller in the deal.

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