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Safeway-Anchored Retail Center in North Spokane Sells for $11 Million
Town & Country Shopping Center, a fully leased, Safeway-anchored neighborhood retail center located at 816 W. Francis Avenue in Spokane, Washington, has been sold for $11 million.
The transaction was facilitated by Dave Black, Chris Bell, Andrew Black, Creighton Morfitt, and James S. Black III of NAI Black, who represented the buyer in the acquisition. “Assets with these characteristics continue to command strong pricing and investor interest in today’s market,” said Dave Black.
Strategically situated along three major arterial corridors on Spokane’s North Side, the multi-building center spans approximately 81,000 square feet and is located on a 5.32-acre site. It serves a well-established and densely populated residential trade area.
Anchored by Safeway, the shopping center hosts a diverse mix of 13 national, regional, and local retail and service tenants. The property comprises five buildings across multiple parcels and was 100% leased at the time of the sale.
Connect CRE is currently accepting nominations for its ninth annual Top Broker Awards, honoring leading professionals in investment sales and leasing based on their recent accomplishments.
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