October 2013
Arroyo & Company is pleased to announce the sale of Central Highlands Plaza, a grocery anchored shopping center in Renton, WA. At the time of sale, the ±100,000 square foot center was 100% leased to Albertsons, Big Lots, Ace Hardware, Planet Fitness, and Starbucks (Not a Part of Sale). In the middle of the transaction, Albertsons completely remodeled the interior and exterior of their building. Renton, located 17 miles from downtown Seattle, is one of the fastest growing areas in the Seattle MSA; in the last 10 years the population size has grown from 50,000 to over 90,000 residents. Pedro Arroyo and David Kram of Arroyo & Company represented the buyer and seller. The buyer, Argonaut Investments purchased the shopping center from the Alamo Group. All parties involved are located in Northern California.
Arroyo & Company specializes in the acquisition and disposition of commercial and multifamily properties. Please contact us if you would like a market update, an opinion of value, or more information regarding the sale of Central Highlands Plaza. acdeals@a-c.com