Multi-Tenant Retail    

Westgate South Shopping Center

 Tacoma, WA

Price

$13,600,000

Cap Rate

7.00%

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Location

Hard Corner

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Square Feet

36,578 SF

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Occupancy

89%

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Recent Lease Extensions

10-Year Renewals

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Nearby Attractions

700K+ Visitors

For more details on this exclusive listing

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INVESTMENT HIGHLIGHTS

  • The Property is being offered as one, with a freestanding Shell priced separately. Please contact Northmarq for more details.
  • Seller financing is a possibility for qualified parties; see financial overview for details.
  • Strong leasing momentum, including five recently executed leases, all of which are between $27-$36 per square foot.
  • The Property is at a prominent location on a busy, daily-needs retail arterial located at the hard corner of N. Pearl Street and N. 26th Street, exposed to over 23,000 vehicles per day.
  • Planet Fitness, Big Lots, and the adjacent Safeway are shadow anchors and provide increased draw to the center.
  • Comfort Dental has recently extended a 10-year lease agreement with a new operator and guarantor, Affordable Care LLC, America’s leading consumer retail dentistry with +/- 425 locations in 43 states.
  • Recent extensions include 10-year renewals with Shell and Comfort Dental; Shell is a corporate-backed lease on its own parcel and has occupied the Property for 30 years.
  • The Property is near Point Defiance Park and Point Defiance Zoo & Aquarium, which draws over 700,000 visitors per year.

Exclusively Listed By

Sean Tufts

Managing Director
  seantufts@northmarq.com      206.693.3352
WA Lic. #74057

Joe Dugoni

Associate
  jdugoni@northmarq.com      206.693.3326
WA Lic. #21001346

Kevin Adatto

Managing Director
  kadatto@northmarq.com      503.675.7726
WA Lic. #21038208



 

For Leasing Information

 

Josh Parnell

Partner, First Western Properties
josh@firstwesternproperties.com
253.230.8715

Justin Holmes

Partner, First Western Properties
justin@firstwesternproperties.com
253.376.8212

Northmarq

130 Nickerson St. Suite 200
Seattle, WA 98109


northmarq.com