Two Area Shopping Centers Change Hands

Two shopping centers north of Seattle are under new ownership this week following a 15-property sale by San Diego-based Burnham Pacific Properties, a retail real estate investment trust that is in the middle of liquidation.

Puget Park in Everett and Meridian Village in Bellingham are the affected properties. Puget Park, located at 520 128th Street SW, is an 89,000-sf center is anchored by a 41,896 square foot Albertson’s. It was built in 1981, and is currently 19% vacant.

Meridian Village, a 208,000-sf shopping center located at 3930 Guide Meridian Road, includes a new Home Depot, as well as a Circuit City and a Rite Aid. It was built in 1979 and renovated in 1997. It is currently 2.3% vacant.