Starbucks/T-Mobile Lacey

Property Overview

Located at 1020 Kingham St. NE in Lacey, WA, this 3,828 SF unanchored retail center was built in 2016 and fully occupied by two tenants at the time of sale.

Challenge

Our team was engaged to sell a two-tenant, new construction retail center in Lacey, Washington. The property was 100% occupied and well-positioned, but at 3,828 SF the asset appealed to a specific pool of buyers — primarily private investors seeking smaller, stabilized retail with passive income. Identifying the right buyer while meeting the seller's pricing expectations required a focused marketing effort.

Action

We represented the seller and ran a targeted marketing process aimed at qualified retail investment buyers, including those pursuing 1031 exchange replacements. The buyer in this transaction was completing a 1031 exchange, which shaped the timeline and qualification process. Our team coordinated due diligence access, managed communication between both parties, and guided the transaction through to a successful close.

Result

• Sold for $2,420,000, or $632 per SF
• 100% occupancy at close, with both tenants in place
• Buyer completed a 1031 exchange, requiring precise coordination on timing and qualification
• Successfully represented the seller through a clean, fully occupied disposition of a new construction retail asset