Edison Center

Property Overview

Edison Center is a 12,000 SF unanchored retail center built in 2004, located at a signalized intersection on Bishop Boulevard in Pullman, Washington. The property is adjacent to the main entrance of a Safeway grocery store and benefits from three points of public access. At the time of sale, the center was 100% occupied by nine tenants across retail, office, and medical uses, all on NNN leases.

Challenge

Our team was engaged by the original developer of Edison Center to manage the sale of the property he had built and held since construction. The assignment required finding a qualified buyer for a multi-tenant retail center in a smaller university market, while also negotiating a seller leaseback for a portion of the property — a condition that added a layer of complexity to the transaction structure.

Action

We brought the property to market as a fully occupied, NNN-leased investment with a service-oriented tenant mix. Our marketing emphasized the stability of the asset: nine tenants, no deferred maintenance, minimal landlord responsibilities, and strong visibility at a signalized intersection along Pullman's primary retail corridor. We targeted investors seeking passive, management-light retail assets and reached buyers outside the local market. Throughout the process, we negotiated the terms of the seller leaseback to satisfy the seller's operational needs while keeping the transaction attractive to the buyer.

Result

• Sold the property for $2,525,000, or $210 per SF
• Achieved a 100% occupancy rate at closing across all nine tenants
• Successfully negotiated a seller leaseback of a portion of the property, meeting the seller's post-sale requirements
• Secured an out-of-state buyer for an asset in a smaller regional market