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: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.