NRIG-West Completes Tacoma Retail Center Deal
By
Tony Seruga
Given the property characteristics, the price reflects how much the Pacific Northwest has heated up.
Tacoma, Wash.–Lincoln Plaza, a community shopping center in Tacoma, was recently sold by
PASSCO Cos. to a local privately-held partnership. Worth about $26.7 million, the deal was arranged by a National Retail Investment Group – West team led by
CBRE Executive Vice President Philip Voorhees.
Located within the city’s retail hub at the northwest corner of S. Steele Street and S. 38th Street, Lincoln Plaza is an 80,922-square-foot unanchored neighborhood retail property. Currently operating at roughly 95 percent occupancy, the asset has a tenant roster that includes names such as Jared The Galleria of Jewelry, Men’s Warehouse, Skechers, Starbucks, Wingstop, Sprint and Big 5….
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