Bucklin Place Retail

Property Overview

Bucklin Place Strip is a 9,823 SF unanchored multi-tenant retail center built in 1999, located at 2222 NW Bucklin Hill Rd in Silverdale, WA.

Challenge

Our team was engaged to broker the sale of a multi-tenant retail strip center in Silverdale, Washington. The property had deferred maintenance that needed to be addressed in the transaction, requiring careful negotiation to reach terms that worked for both sides. Because the deal was structured off-market, the process depended entirely on our team's ability to connect the right buyer and seller directly, without a broad public marketing campaign.

Action

Erik and Mike identified and connected a local buyer with a local seller, structuring the transaction off-market. To bridge the gap created by the property's deferred maintenance, our team negotiated a credit on behalf of both parties that reflected the condition of the asset. We then managed the escrow process through to closing, keeping the transaction on track and both parties aligned.

Result

• Completed an off-market sale, connecting a local buyer and local seller without a public listing
• Negotiated a deferred maintenance credit that allowed both parties to reach acceptable terms
• Sold the property for $3,550,000 ($361/SF)
• Represented both the buyer and the seller, managing the full transaction from negotiation through escrow