X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TUKWILA, WA-The 85,000-sf Parkway Square shopping center changed hands earlier this month for $11.7 million, according to records provided by First American Title. The buyer is Washington based Everett Plaza Shopping Center, a general partnership that owns other retail centers located throughout Washington. The center is anchored by Toys R’ Us, Magnolia Hi-Fi and Sterling Jewelers.

The seller is apparently a unit of San Francisco-based developer Capital & Counties U.S.A., which announced the sale recently, referencing itself as the seller. According to title records, Capital & Counties U.S.A. and Real Property West Inc. in March sold Parkway Square to NSHE Tomahawk LLC of Arizona for $12.5 million. NSHE requested its final purchase documents be sent to C&C’s San Francisco offices. No brokers were involved in the transaction.

A spokesman for C&C could not immediately be reached for comment on the March sale or the difference in price, but such information will be added to this story shortly after it is made available. In a prepared statement, C&C VP Fergal McHugh said the company’s “current business strategy involves concentrating on the purchase and development of California based properties, which is the strength of our portfolio. This was our sole asset in Washington. This transaction turns the center over to a local owner, and allows us to continue to build a stronger presence in our targeted market.”

C&C is part of the U.K. based Liberty International PLC. The U.S. subsidiary has approximately 2 million square feet of office and retail space under ownership, including Ghirardelli Square, a landmark property in San Francisco, Serramonte Shopping Center in Daly City, The Senator Office Building in Sacramento, the Pacific Financial Center in Los Angeles and The Willows Shopping Center in Concord, among others.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.