HFF closes sale of the leasehold interest of a vacant grocery store near Seattle, WA
NEWPORT BEACH, CA – July 21, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of the leasehold interest of a vacant building formerly occupied by Haggen Food & Pharmacy in the Seattle suburb of Burien, Washington.
HFF marketed the property on behalf of the seller, HH Property North, LLC. Five Corners Leasehold LLC, purchased the leasehold interest for an undisclosed price.
Completed in 1996, the 40,593-square-foot building is part of the Five Corners Shopping Center, which is also home to Trader Joe’s, Panda Express, Starbucks, Freedom Fitness, Verizon and Sunny Teriyaki. Located at 15840 1st Avenue South, the building is at the intersection of South 160th Street and 1st Avenue South just off Highway 509 near Seattle-Tacoma International Airport.
The HFF investment sales team representing the seller was led by Nick Foster, Nick Kassab and Mark West. The buyer was represented by Brendan Powell of Marcus & Millichap.
“This was an excellent opportunity to own a quality retail building within a dynamic shopping center in the Seattle MSA,” Foster said.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.