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9/22/26
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J.O. Borgen Plaza, a 28.4k sf, multi-tenant retail center in North Bend, WA, sold for $8.2 mil, or $289/sf. The property is located at 248-250 Bendigo Blvd S and 249 Main Ave S.
Located in the Seattle MSA along the I-90 corridor, the center is occupied by a freestanding Wells Fargo branch along with a daily-needs shop lineup with Jersey Mike's Subs and The UPS Store, among others. The sale was aligned with a committed national retailer to backfill the 18k sf Bartell Drugs building, which became dark following Rite Aid's acquisition and subsequent bankruptcy. New ownership will see the property back to full occupancy with a successful opening planned for 2027.
Northmarq Managing Directors Sean Tufts and Kevin Adatto, Senior Associate Joe Dugoni, and Associate Jack Hallberg represented both the seller and buyer in the transaction.
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