Grocery Anchored Value Add Retail
NATIONALLY ANCHORED INVESTMENT
Albertsons has been in this location since the center was constructed in 1988 and is in the process of executing a 5-year renewal, confirming their commitment to the location. Ross has been in this location since 1990.
IMMEDIATE VALUE ADD OPPORTUNITY
Collectively, the center is 65% occupied providing an opportunity for an investor to increase the operating income through lease-up and stabilization.
HIGH TRAFFIC LOCATION
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.
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. The MSA includes a population of over 270,0000 residents.
RECENT CAPITAL IMPROVEMENTS
In 2017, the ownership group invested over $1.1 Million dollars in improvements to the center, including parking lot, landscaping, and façade upgrades.
Kidder Mathews, in collaboration with RealINSIGHT Marketplace, is pleased to offer to qualified investors the opportunity to acquire the 100% fee-interest in Olympia Square, an Albertson's anchored neighborhood center located approximately 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. 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. The center is 65% occupied providing an opportunity for an investor to increase the operating income through lease-up and stabilization.
Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.
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You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
3430 Pacific Avenue, Olympia, WA 98501
Platform fee for this transaction is 5.00% or a minimum of $25,000.