BECU Strip Retail

Property Overview

Located at 1755 S Burlington Blvd in Burlington, WA, this 7,500 SF unanchored strip retail center was built in 2015 and fully occupied at the time of sale. The four-tenant lineup includes Chipotle, BECU, Cricket Wireless, and Soccer City.

Challenge

Our team was engaged to represent the buyer in the acquisition of a fully occupied, four-tenant retail center in Burlington, WA. The property was not publicly listed, meaning the assignment required sourcing and securing an off-market opportunity that matched the buyer's investment criteria in a competitive retail environment.

Action

We identified the property through off-market channels and worked directly with the seller's side to structure a transaction that met the buyer's objectives. With 100% occupancy and a tenant mix anchored by nationally recognized names, the property required careful underwriting and coordination to bring both parties to agreement on terms without the benefit of a competitive bidding process to establish market pricing.

Result

• Represented the buyer in an off-market acquisition
• 7,500 SF retail center sold for $3,690,000 ($492 per SF)
• 100% occupancy at close with four tenants: Chipotle, BECU, Cricket Wireless, and Soccer City
• 2015 construction with no deferred maintenance concerns at the time of sale