Vestar Acquires Six-Property Retail Portfolio in Metro Seattle for $95 Million

Lynnwood, Wash. — Vestar has acquired a six-property, 297,599-square-foot retail portfolio in Lynnwood for $95 million. The six properties are Alderwood Parkway Place, Alderwood Parkway Plaza, Alderwood Parkway Plaza II, Golde Creek Plaza, Golde Creek Plaza II and Golde Creek Plaza III, which are located at the northeast and northwest corners near Alderwood Mall Parkway and 196th Street SW, near Alderwood Mall and 17 miles north of downtown Seattle. The seller was the original developer of the properties, which were built between 1997 and 2002. The portfolio is fully leased to tenants including Best Buy, Ulta, Nordstrom Rack, DSW Shoe Warehouse, Barnes & Noble and Old Navy. Paul Sleeth and Billy Sleeth of Newmark Knight Frank represented the seller in the transaction.