BURLINGTON, WA-Newman Development Group of New York has sold Burlington Crossings for $37.8 million. The new owner of the 162,178-sf power center is Los Angeles-based Stratford Hall Inc.
Built in 2005, Burlington Crossings is located between Highway 5 and South Burlington Boulevard, 45 minutes north of Seattle. Shadow anchored by Home Depot, center tenants include Old Navy, Petsmart, Ross, Linens-N-Things, Best Buy, McDonald's and Olive Garden.
Buchanan Street Partners, a national real estate investment bank, arranged the sale. Buchanan VP Alan Purser says Stratford Hall was selected over other buyers due to its purchase price offer, which was not contingent upon financing.
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