Clock Tower

Property Overview

Clock Tower is an 18,749 SF unanchored multi-tenant retail center built in 2006, located at 15021 Main St in Mill Creek, WA.

Challenge

Our team was engaged to sell Clock Tower, a multi-tenant retail center in Mill Creek, Washington. The assignment required identifying a buyer capable of closing a transaction on an unanchored retail asset in a market where buyers for this property type can be selective.

Action

We marketed the property to a broad pool of qualified investors, with particular focus on buyers seeking replacement properties for tax-deferred 1031 exchanges. Our outreach identified a buyer actively pursuing a 1031 exchange, and we guided both parties through the requirements of that process to keep the transaction on track.

Result

• Sold for $5,700,000, or $304 per SF
• Secured a 1031 exchange buyer, meeting the timing and identification requirements of that transaction structure
• Successfully closed the sale of an unanchored multi-tenant retail center in Mill Creek, WA