Lacey Crossroads Portfolio

Property Overview

Lacey Crossroads Portfolio is a 28,997 SF unanchored retail center built in 2008, located at 5401 Corporate Center Loop SE in Lacey, WA.

Challenge

Our team was engaged to sell a multi-tenant retail portfolio that had originally been acquired by a private equity seller following a failed development. The seller had worked to stabilize the asset with the intent of selling individual components. Finding the right buyer required identifying a party with both the operational knowledge and the capital to acquire the property outright, rather than waiting for a piecemeal disposition strategy to run its course.

Action

We ran an on-market sale process targeting buyers with direct retail operating experience. Recognizing that the anchor tenant had a vested interest in the long-term control of the property, our team identified the operator as a logical acquisition candidate and worked to structure a transaction that aligned with both the seller's exit objectives and the buyer's operational goals.

Result

• Sold the Lacey Crossroads Portfolio for $7,250,000, or $250 per SF
• Identified the anchor tenant, a Thrive Fitness operator, as the owner-user buyer
• Successfully closed an on-market transaction that resolved the seller's stabilized-asset disposition strategy
• Represented both the buyer and the seller in the transaction