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51k SF Meridian Valley QFC Center Closing! February 4, 2010

Posted by Sean Tufts in Retail News, Retail Sales Comps, Sale.
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The first notable retail center sale in the Puget Sound market has closed for the year.  Meridian Valley located in Kent, WA is a 51,566 square foot center anchored by a QFC (Kroger) grocery store.  The center, built in 1981, was 100% leased at the time of sale and sold for $134/sf.

Fully leased retail investment sales have been rare in the past two years.  We are encouraged  and this is no doubt a good sign for our market.   The press release can be found here.

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