Price: Best Offer
Building SF: 140,240 SF
Land SF: 694,752 SF / 15.95 AC
James Center (“the Center”) presents a unique opportunity to acquire a 140,240 SF grocery and drug anchored shopping center located within the Seattle MSA in the captive trade area of Tacoma, WA. The Center benefits from below market anchor rents, a recent 5-year Kroger lease extension and a 10-year Rite Aid extension, a successful Kroger location with excellent sales, scarcity of product, high income trade area, and attractive NOI growth through rental and leasing upside.
The center contains five fee-standing single tenant buildings and four free-standing multi-tenant buildings providing flexibility and a potential future break-up strategy.
The credit and solidity of the current income stream, recent leasing momentum, lease extensions, tenant sales trend, stabilization of the asset, growth trends, and long-term redevelopment potential creates a rare investment opportunity.