Two-Tenant Grocery Outlet Anchored Building

This offering presents a rare opportunity to acquire a 100% leased, two-tenant grocery-anchored retail asset located within Normandy Park Towne Center in the highincome, waterfront community of Normandy Park, WA, just south of Seattle. The property is anchored by Grocery Outlet, which recently executed a new 10-year lease, providing a stable and reliable income stream. Auntie’s Playhouse, a well-established childcare and early education center, complements the anchor with essential community-serving use and consistent daily traffic. Auntie’s current lease has approximately six years remaining with annual rent escalations. This contributes to a weighted average lease term (WALT) of 6.87 years. 

The asset features high-quality construction, excellent access and visibility along 1st Avenue South, and strong underlying market fundamentals supported by limited retail competition and a highly affluent customer base. With its combination of essential-use tenancy, long-term lease commitments, and strategic south-Seattle location, the property represents a compelling, low-risk investment in a supply-constrained market