Marketing Description:

For sale Spanaway Plaza, a value-add retail center located in rapidly growing Seattle/Tacoma MSA. The Property is currently 87% occupied with new tenants coming to the center including a brand-new construction Big Foot Java and OneMain Financial. Vacancy rates in the Spanaway retail sub-market are currently 3.3% with 6% rent growth year-over-year providing the investor with a simple value-add strategy. Rents in the sub-market have increased a cumulative 17.8% with virtually no new retail development. The Property features a brand-new TPO roof installed in 2022 and a new 20-year transferable roof warranty. The Property benefits from a population of over 57,000 residents within a 3-mile radius, with average household incomes exceeding $89,000. Within a 3-mile radius, the population has incr