Value Village Puyallup

Property Overview

1124 River Rd, Puyallup, WA is a 24,005 SF single-tenant retail building constructed in 1986. Value Village (Savers, Inc.) has operated at this location since 1998 under a triple net lease structure, with the landlord responsible only for the roof and structure. The property was offered free and clear of debt.

Challenge

Our team was engaged to sell this property as part of a portfolio of single-tenant Value Village assets, with each property priced and marketed individually. The assignment required establishing a credible lease position before going to market — without a strong, committed lease term in place, buyer confidence and financing options would be limited. Securing tenant buy-in ahead of the marketing launch was essential to presenting the asset in its strongest form.

Action

Before listing the property, Erik and Mike negotiated a lease extension directly with Value Village, re-anchoring the tenant's commitment to the location. With the extended lease in place and two 5-year renewal options remaining, the property was positioned as a passive, low-management investment with a long-operating, internet-resistant tenant. The team then ran a structured on-market campaign targeting buyers seeking single-tenant net leased retail.

Result

• Negotiated a lease extension with Value Village prior to marketing, strengthening the investment profile
• Generated multiple offers on the property
• Sold to a local buyer at $2,157,000 ($90 per SF)
• Delivered a clean transaction with the property offered free and clear of debt