Lou Senini of the Seattle office of CB Richard Ellis co-brokeredthe transaction with Don Fosseen and Steve Storrar—specialists inretail and office investment properties. As the exclusive agentsfor CAPROC (formerly known as Capozzoli Advisory for Pensions),Senini tells GlobeSt.com the trio procured the buyer aswell—Sherman Oaks, Calif.-based ACF Property Management.

According to Senini, the mall, located at 1321 SE Everett MallWay, contains nine, small retail buildings set about anapproximately 9.5-acre site. The space is currently 98% leased,with only very small spaces now available. The plaza's key tenantsinclude major chains, such as Toys R Us, Michael's and Petco.

Senini confirmed that current lease rates in the mall, built in1985, vary between $14/sf and $22 per sf. "There's a pretty bigvariation because of the different sizes of the spaces," he says.Rents in comparable properties throughout the south Everett retailarea range (for the most part) between $11 per sf and $25 per sfaccording to one GlobeSt.com source.

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