John L. Scott Real Estate Sets Up in Kent

KENT, WA-John L. Scott Real Estate has signed a 10-year lease to occupy 6,931 sf at the Lake Meridian Marketplace shopping center located at the northwest corner of Kent Kangley Road and 123rd Avenue.

Details of the deal were not disclosed, but the property had been marketed for roughly $16 per/sf, according to Eric Li, the Northwest leasing agent for Regency Centers, which owns and operates Lake Meridian Marketplace. If it went for the asking price, the lease would be worth $1.1 million.

The 165,210 square-foot shopping center is anchored by Albertson’s, Bartell Drugs, and 24 Hour Fitness. In the transaction, John L. Scott was represented by Rachel Corporation of Kidder, Matthews, and Segner.

John L. Scott is scheduled to open its doors to the public in April 2002. As of Sept. 30, Regency owned 268 retail properties totaling 28.6 million sf located in high growth markets throughout the United States