jump to navigation

Cathay Bank Sells Steele St. Retail Center April 29, 2010

Posted by Erik Swanson in Retail Sales Comps.
trackback

Cathay Bank sold a 9,424 square feet retail center in Lakewood, WA yesterday for $1,350,000. The center was purchased at the height of the market in March 2007 for $3,375,000 (6.5% CAP Rate). Cathay Bank foreclosed on the property in February of this year.  The building is 37% occupied with three retail tenants on triple net leases. This center is recently notorious for being the location where four Lakewood Police Officers were shot and killed in an ambush at Forza Coffee.

Advertisements

Comments»

No comments yet — be the first.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: