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| Albertsons Stores are in Renton, WA and Milton, WA |
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| Nick Foster |
NEWPORT BEACH, CA, Aug. 3, 2016 – Holliday Fenoglio Fowler, L.P.
(HFF) announced today that it has closed the $16.3 million sale of two
single-tenant Albertsons grocery stores totaling 97,021 square feet in Renton
and Milton, Washington.
HFF marketed the two
properties on behalf of the seller, HH Property North, LLC. CE Enterprise Partners, LLC purchased both
properties.
The sale included a
43,130-square-foot store in Renton, which was renovated in 2015. The building is triple net leased to Albertsons
through 2035 and is located 18 miles southeast of Seattle’s city center.
The 3.55-acre property benefits from strong
demographics; within a three-mile radius of the store, there are more than
98,000 residents with an average annual income of more than $96,000.
The second property is
located approximately eight miles east of Tacoma and 27 miles south of
Seattle. Situated on 4.2 acres at the
intersection of Milton Way and State Route 161, the property is in a trade area
with 65,400 households living within a five-mile radius with an annual
household income of more than $76,000.
The 53,891-square-foot building is triple net leased to Albertson’s
through 2035.
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| Mark West |
The HFF investment sales
team representing the seller was led by Nick
Foster, Mark West and Nick Kassab. Bob
Tuller of Cushman & Wakefield’s San Francisco office represented the
buyer.
“These two properties
generated exceptional interest given the strength of the tenant, long-term
nature of the leases and dynamic retail locations,” Foster said.
For a complete copy of the company’s news release,
please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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