South Sound Center

Newmark Retail Capital Markets is pleased to announce the successful sale of South Sound Center, a Trader Joe’s-anchored regional retail destination located at the intersection of Sleater Kinney Rd SE and Pacific Ave SE in Lacey, Washington.

The 384,153 SF asset was 81% leased at the time of sale, underpinned by a newly executed 10-year Trader Joe’s lease and home to Kohl’s, Marshalls, Michaels, PetSmart, Famous Footwear, Sleep Number, Applebee’s, Starbucks, Carl’s Jr., and a Target shadow-anchor. Generating approximately 5 million annual visits* — ranking the property in the top 5% of U.S. shopping centers — the Center provides stable in-place income, meaningful leasing upside, and long-term redevelopment optionality across 31.24 acres of Lacey’s Woodland District Master Plan area. The sale marks the close of more than 60 years of family stewardship by the property’s original developer, Capital Development Company.