Eastway Center

Property Overview

Eastway Center is a 29,232 SF unanchored multi-tenant retail center built in 1990, located at 3901 NE 4th St in Renton, WA.

Challenge

Our team was engaged to handle both sides of the transaction for Eastway Center, a value-add retail property in Renton, Washington. Representing both the seller and a buyer completing a 1031 exchange introduced a layer of complexity, as our team needed to serve the distinct interests of each party while keeping the transaction on track.

Action

Erik and Mike ran an on-market process for the property, positioning it as a value-add opportunity to attract buyers with the appetite and experience to take on a multi-tenant retail asset. Because the buyer was completing a 1031 exchange, our team coordinated closely with both parties to align the transaction timeline with the buyer's exchange requirements. Representing both sides, we worked to structure terms that satisfied the seller's pricing expectations while meeting the buyer's acquisition criteria.

Result

• Sold for $6,050,000, or $207 per square foot
• Successfully represented both the buyer and the seller in a single transaction
• Facilitated a 1031 exchange acquisition for the buyer, meeting the exchange's timing and structural requirements
• Closed an on-market value-add retail deal on a 29,232 SF unanchored center in Renton, WA