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4/03/25
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An investment partnership managed by Rosen Harbottle Commercial Real Estate acquired James Center, a grocery-anchored retail center in Tacoma, WA. The 140.2k sf asset, located at 6901 S 19th St, consists of multiple buildings on a 15.95-acre site.
The retail center is strategically located adjacent to Tacoma Community College and the Tacoma Housing Authority’s James Center North/Aviva Crossings affordable multifamily housing development, now underway. Major tenants at James Center include Fred Meyer grocers, Rite Aid, U.S. Bank, IHOP, Taco Bell, MultiCare, and FedEx.
The purchase was financed with an acquisition loan of $21.4 mil. Gantry’s Alan Hergert and Tim Brown with Gantry arranged the money on behalf of the buyer. The 10-year, fixed rate, nonrecourse loan was secured through a life company lender and features 30-year amortization. Gantry will service the loan. According to Hergert, James Center was acquired by a highly experienced sponsor with plans for a legacy hold.
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