Bethel Road Retail

Property Overview

Bethel Road Retail is a 6,656 SF unanchored multi-tenant retail building located at 3475 Bethel Rd SE in Port Orchard, WA, built in 1990.

Challenge

Our team was engaged to handle both sides of this retail investment sale in Port Orchard, Washington. The property was 82% occupied at the time of sale, meaning one or more suites were vacant, which required buyers to underwrite both the in-place income and the lease-up risk on the remaining space. Aligning the expectations of both the seller and the buyer through a single team required careful management of each party's interests throughout the process.

Action

Our team ran an on-market campaign for the property and worked directly with both the seller and the buyer to move the transaction forward. We provided each party with the market context and property-level analysis needed to reach agreement, and we managed due diligence and communication between both sides through closing.

Result

• Represented both the buyer and the seller in the transaction.
• Sold the 6,656 SF retail property for $1,875,000, or $282 per square foot.
• Successfully closed the sale with the property at 82% occupancy, requiring both parties to accept and underwrite the existing vacancy.