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Kirkland Shopping Center Changes Hands for $14M

Kirkland Shopping Center Changes Hands for $14M

Tourmaline Capital, a San Diego-based private equity company, has purchased Inglewood Village Shopping Center on Finn Hill in Kirkland, WA for $14.3 million. According to the Puget Sound Business Journal, the seller is a group of tenants-in-common, with the estate of Bradley A. Middling holding the biggest stake.

Inglewood Village, located at 14130 Juanita Dr. NE, is approximately 60 years old and is fully-leased, according to MK Property Services. Some of the tenants at the shopping center include QFC, Bartell Drugs, Subway and Finn Hill Animal Hospital. The company that acquired the asset reportedly specializes in buying and developing West Coast retail properties, and city records do not indicate redevelopment.

Grocery-anchored shopping centers in affluent areas like Kirkland continue to be popular among investors and Inglewood Village fits the bill, as Downtown Kirkland is considered the 7th richest Seattle neighborhood according to a 2021 story in Money, Inc


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MK Property Services

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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