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$4.2m Retail Center and Land Sale, Tacoma WA February 9, 2010

Posted by Sean Tufts in Retail Sales Comps, Sale.

NWR Realty has just closed on the sale of two parcels on 6th Ave & Orchard in Tacoma, WA just East of Hwy 16.  The property is improved with a 10,000sf retail center built in 2006 with Pizza Hut & Cutters Point Coffee and sits in the Kmart parking lot.

The retail portion was roughly 35% vacant at the time of sale.  The other building on site will be demolished and replaced by two fast food restaurants.  NWR is a local Sonic Drive-In operator and will develop a free-standing Sonic and yet-to-be-named restaurant on the excess land.  The retail center parcel sold for $2.5m or $239/sf.



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