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CBRE Brokers $57M Sale of Issaquah Shopping Center
CBRE has brokered the $57 million sale of the Town & Country Square shopping center, a potential redevelopment property, in Issaquah, WA. The firm’s Dino Christophilis and Daniel Tibeau represented the seller, a local investment group. The buyer, a private investor, has not filed plans for the property, but its location is prime for eventual redevelopment.
“Town & Country Square is a textbook example of the long-term potential for retail shopping centers. While the property is fully stabilized with 100% occupancy, the highest and best use is for mixed-use redevelopment,” said Christophilis. “The process will occur over many years and involve a working relationship with the city of Issaquah and current tenants, but as a local investor, the purchaser is uniquely qualified to undertake such a process.”
The 166,0000-square-foot Town & Country Square shopping center is leased to a mix of tenants including Hobby Lobby, Rite Aid and 425 Fitness.
- ◦Sale/Acquisition
