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6/09/20
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A Seattle-based private investor closed on the $7.7 mil purchase of a brand-new construction, 11.1k sf ($693/sf) multi-tenant retail property located in the Seattle metro area. The property was sold by the developer, located in Henderson, NV.
Located at 8820 and 8830 36th Avenue Northeast in Marysville, adjacent to the I-5 Fwy on/off ramp at 88th Street Northeast, the new, six-tenant property consists of two retail shop buildings, of roughly 5.5k sf and 5.6k sf in size. The buildings are 100% leased to Starbucks with a drive-thru, Pacific Dental Services, Jersey Mike's Subs, Dickeys, AT&T and OneMain Financial.
Retailers and entertainment in the area include Tulalip Resort Casino, stores at the Seattle Premium Outlets, Cabela’s, The Home Depot, Walmart Supercenter, Bob’s Burgers, Haggen and Safeway grocery store, Applebee’s Grill + Bar, Panera Bread and many others.
Jeff Lefko and Bill Asher with Hanley Investment Group Real Estate Advisors represented the buyer in the deal.
Marysville is a city in Snohomish County, WA, and is located 35 miles north of Seattle, adjacent to Everett on the north side of the Snohomish River delta. It is the second-largest city in Snohomish County after Everett, with a population of 69,779 (2018). Within a five-mile radius of the property, the population count is 84,374 with an average household income exceeding $79,500.
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