Kidder Mathews, in collaboration with RealINSIGHT Marketplace, is pleased to offer to qualified investors the opportunity to acquire the 100% fee simple interest in Olympia Square, an Albertsons anchored neighborhood center located 65 miles south of Seattle in Olympia, Washington. This offering represents an opportunity to acquire a 65% occupied grocery-anchored asset with existing cash flow and a significant value-add component.
To execute the confidentiality agreement and access the offering memorandum, please visit https://marketplace.realinsight.com/sales/details/323
Built in 1988, the investment consists 167,209 rentable square feet on 14.99 acres of land. Pacific Avenue, a major arterial leading to Interstate 5, bisects the center into two distinct properties: 1) Olympia Square North, anchored by Albertsons and 2) Olympia Square South, anchored by Ross Dress for Less.
OLYMPIA SQUARE NORTH
• 99,653 square feet
• Over 1,000 linear feet of frontage on Interstate 5 and 1,100 feet on Pacific Avenue
• Tenants include Albertsons, FedEx Office, Dairy Queen, and Subway
OLYMPIA SQUARE SOUTH
• 68,666 square feet
• Over 550 feet fronting Pacific Avenue
• Tenants include Ross Dress for Less, Shari’s, and Sally Beauty Supply
Albertsons has been in this location since 1988 and recently executed a 5-year renewal, confirming their commitment to the location. Ross has been in this location since 1990.
The center is 65% occupied providing an opportunity for an investor to increase the operating income through lease-up and stabilization.
The shopping center gets excellent exposure with over 1,000 feet of frontage and 128,000 vehicles per day passing through on I-5 and 34,000 vehicles per day on Pacific Ave SE.
In 2017, the ownership group invested over $1.1 million dollars in improvements to the center, including parking lot, landscaping, and façade upgrades.
The Olympia-Lacey-Tumwater region recently ranked in the top 25 fastest growing metro areas according to a U.S. Census report. Olympia is located 60 minutes south of Seattle. It is the state’s capital city and is the economic epicenter for Thurston County
Price Per SF
|3430 Pacific Avenue SE, Olympia, WA, 98501|