Marcus & Millichap Facilitates Sale of 14.18-Acre Tri-Cities Shopping Center, Plans Major Modernization

Reuters

2025/07/03

Marcus & Millichap Facilitates Sale of 14.18-Acre Tri-Cities Shopping Center, Plans Major Modernization

Marcus & Millichap Inc., a leading commercial real estate brokerage firm, has successfully facilitated the sale of a 14.18-acre shopping center in the Tri-Cities, Washington. The transaction, marking the first sale of the high-visibility Tri-Cities Center in over forty years, was spearheaded by Marcus & Millichap's Seattle office under regional manager Joel Deis. Financing for the sale was provided by Ray Allen with Marcus & Millichap Capital Corporation. The center, located at a prime location in the Tri-Cities MSA, includes five pad buildings and hosts national tenants, including a top-performing Burlington store. The new owners plan to embark on a transformative modernization project, aiming to enhance the aesthetic and operational appeal of the shopping center, positioning it as a premier retail destination in the region. This sale is part of Marcus & Millichap's active involvement in shopping center and net lease investment sales in eastern Washington, having completed 47 transactions totaling over $120 million since 2023.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Marcus & Millichap Inc. published the original content used to generate this news brief on July 02, 2025, and is solely responsible for the information contained therein.

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The transaction, marking the first sale of the high-visibility Tri-Cities Center in over forty years, was spearheaded by Marcus &amp; Millichap's Seattle office under regional manager Joel Deis. Financing for the sale was provided by Ray Allen with Marcus &amp; Millichap Capital Corporation. The center, located at a prime location in the Tri-Cities MSA, includes five pad buildings and hosts national tenants, including a top-performing Burlington store. The new owners plan to embark on a transformative modernization project, aiming to enhance the aesthetic and operational appeal of the shopping center, positioning it as a premier retail destination in the region. 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While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Marcus & Millichap Inc. published the original content used to generate this news brief on July 02, 2025, and is solely responsible for the information contained therein.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}