Seattle & Northwest + Seattle + Retail | December 29, 2022

Transnational Acquires Everett Retail Center for $24M

CBRE has arranged the sale of Greentree Plaza, an 83,000-square-foot shopping center in Everett, WA. Transnational Management purchased the property from ACF Property Management for $23.7 million. CBRE’s Dino Christophilis and Daniel Tibeau, with the firm’s National Retail Partners, arranged the transaction on behalf of the seller.

Greentree Plaza is 96% leased to 18 tenants including Chipotle, Starbucks, Jamba Juice, Bank of America, Supercuts and one of just four Sportsman’s Warehouses in the Puget Sound region. The property, located at 305-505 SE Everett Mall Way encompasses big box, inline and pad space, all constructed between 1988 and 2004.

“Tenant demand at Greentree Plaza is strong. The seller cultivated an outstanding tenant roster with several national brands, and additional tenants were signed during the escrow process,” said Christophilis. “While rising interest rates are making it more expensive to borrow, we were able to get creative between both parties to execute the sale.”

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ACF Property ManagementGreentree PlazaCBRE's Dino Christophilis

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.