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CBRE Arranges Sale of Lacey Marketplace to Two Buyers
CBRE has successfully arranged the sale of Lacey Marketplace, a fully leased 125,204-square-foot power shopping center located in Lacey, Washington. The property was acquired by two separate buyers: Curbline Properties and Agree Realty. CBRE’s Dino Christophilis and Daniel Tibeau represented the seller in the transaction.
Curbline Properties purchased the 31,885-square-foot strip retail portion at 1350 Marvin Road NE. The center features a diverse tenant mix, including Panera Bread, Mattress Firm, BECU, Verizon, Cutter’s Point Coffee, Panda Express, and several other established food, beverage, and service retailers.
Agree Realty acquired another portion of the property, also totaling 31,885 square feet and located at 1200 Marvin Road NE, for $21 million. Notable tenants in this section include Boot Barn, La-Z-Boy, Petco, Ross Dress for Less, and Ulta Beauty.
“Only a handful of tenants have turned over since the property was developed in 2006, a testament to the strength of the submarket and dominant position of the property,” said Dino Christophilis, Senior Vice President at CBRE.
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