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January 31, 2023
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Transnational Management Spends $23.7 Mil on WA Retail Asset

1/03/23

Transnational Management closed out 2023 with the acquisition of Greentree Plaza, an 83k sf shopping center in Everett, WA, for $23.7 mil.

Located at 305-505 SE Everett Mall Way, along Everett’s busiest commercial arterial by traffic counts—Everett Mall Way, seeing around 36,000 cars per day. The location is two blocks west of the Everett Mall.

The property encompasses big box, inline and pad space, all constructed between 1988 and 2004. The buildings flank and share a parking lot with a Target store, which was not included in the sale.

Greentree Plaza was 96% leased to 18 tenants at the time of sale, including several national brands. Chipotle and Starbucks occupy the pad building. The big box tenant is Sportsman’s Warehouse, which has only three other locations in the Puget Sound region. Inline tenants include Jamba Juice, Visionworks, Bank of America, Subway and Supercuts, among others.

Dino Christophilis and Daniel Tibeau with CBRE’s National Retail Partners represented the seller, ACF Property Management.

"Tenant demand at Greentree Plaza is strong. The seller cultivated an outstanding tenant roster with several national brands, and multiple additional tenants were even signed during the escrow process,” said Christophilis.




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