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Seattle & Northwest  + Seattle  + Retail  |  November 22, 2024
Jasmine Kilman
By: Jasmine Kilman

Lightstone Acquires The Outlet Collection Seattle for $82M

Lightstone has acquired The Outlet Collection Seattle from Washington Prime Group for $82 million.

Located in the greater Seattle metropolitan area, the Seattle Outlet Collection is an enclosed outlet center that spans 920,000 square feet. Lightstone has engaged seasoned industry professionals Nicholas King, formerly COO of Prime and Paragon Outlets, Michele Dawson and Scott Ferguson of FFO Real Estate Advisors to handle outlet tenant leasing, and Spinoso Real Estate Group to handle leasing. 

Upon acquisition by Lightstone, the firm plans to invest over $10 million in capital improvements and tenancy upgrades across the enclosed mall. “We see tremendous opportunity in this investment, and are looking forward to tapping into its full potential,” said David Lichtenstein, Chairman and CEO of Lightstone.

Currently operating at 98% occupancy, a selection of the mall’s tenants include Nordstrom Rack, Burlington, Best Buy, Dave & Busters, Polo Ralph Lauren, Kate Spade, Ulta, Coach, Nike, Adidas, and Michael Kors.

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LightstoneSpinosoFFO Real Estate Advisors

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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