JLL has arranged the $35.4 million sale of Admiral Junction, a rare infill Seattle grocery-anchored retail center located in West Seattle’s affluent Admiral submarket.
JLL worked on behalf of the buyer, Silver Star Ventures. JLL Capital Market’s Investment Sales and Advisory team was led by Managing Director Daniel Tyner and Senior Managing Directors Geoff Tranchina, Gleb Lvovich and Zach Koucos.
The 67,992-square-foot retail center is 100% leased and includes a 60,876-square-foot Safeway store and a 7,116-square-foot retail shoppes building. The property features a strong tenant mix with Safeway representing 82% of the property.
Admiral Junction is strategically positioned at 2620 California Ave. SW at the intersection of Admiral Wy. and California Ave., West Seattle’s primary commercial arterial. “Admiral Junction represented a rare opportunity to acquire an infill core grocery-anchored asset in West Seattle with a strong performing grocer,” said Tyner. “The property’s exceptional location, strong demographics and stability made it an attractive opportunity for the buyer.”
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