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Newmark Knight Frank Completes the Sale of Downtown Burien Dollar Tree and Grocery Outlet

Newmark Knight Frank (NKF)’s Retail Investments Team of Executive Managing Director Paul Sleeth, Executive Managing Director Billy Sleeth and Investment Associate Patrick Allen recently represented PRG Investment Company LLC in the sale of an existing stabilized shopping center located in the heart of Burien, collectively dubbed Downtown Burien. SBI Burien LLC bought the two buildings, totaling 34,428 SF for a final sale price of $9,300,000. The sale closed December 17th, 2019.




The asset, located at 236 SW 152nd St, has a future development upside. The flexible zoning allows for dense commercial, residential, or mixed use developments with a maximum of up to 8 stories, though the City of Burien has expressed their desire for increased density beyond the 8 story limit.


“The close-in location, stability, cash flow, and redevelopment potential make Downtown Burien a unique offering,” said Billy Sleeth, Executive Managing Director for NKF. “It’s a good play for the new owners whichever way they decide to take the property in the future.”

Situated adjacent to Burien Town Square and City Hall, Downtown Burien is one mile from Seatac International Airport. The advantageous zoning and flexibility from the city of Burien provides an excellent densification opportunity in the near or long-term.


About Newmark Knight Frank: Newmark Knight Frank (“NKF”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF’s 16,000 professionals operate from approximately 430 offices on six continents. NKF’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.sleethretail.com.


Download the origianl Press Release here.

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