Trophy Grocery & Fitness Anchored Shopping Center in the Puget Sound

Tacoma, WA
Price $47,350,000

Delivering a Discrete Tailored Marketing Process which Generated Multiple Offers, Maximized Assurance, and Closed at Record Pricing with an Institutional Buyer

Highland Hill Shopping Center is a 163,926 square foot Safeway and LA Fitness anchored shopping center in Tacoma, WA. The sellers desired a highly specialized and confidential marketing effort targeting only the most qualified institutional and private capital West Coast purchasers. Capital Pacific created an exclusive opportunity that drove price through multiple rounds of offers.

Insights from the team

Expansive Trade Area Draw & Increasing Market In-Migration

Tacoma has been experiencing an increase in market in-migration from Puget Sound residents who recognize its lower cost of living compared to sky rocketing prices in Seattle.

Highlighting Highland Hill’s location adjacent to the Highway 16 interchange and Interstate 5 connectivity enabled us to show how commuters and families utilized the shopping center and expanded the trade area draw.

 

High Performing Tenant Mix

Teaming with local leasing agents and utilizing tenant relationships, we were able to demonstrate the strength of performance of specific tenants and how they compared to similar centers in the area. With 43% of the tenants occupying the center 10+ years, depicting the long term tenancy at the center was crucial. Safeway has operated in various locations on the Property for over sixty years.

Understanding the grocer performance and future opportunities to stabilize and invest in the anchor tenant on the front end allowed us to overcome the “option period” lease term objection and provide a clear and succinct story about the long term viability and positioning of the grocer tenant.

6201 6th Ave, Tacoma, WA, United States