Lynwood-based Gramor Development built the center in 1995. It is located at the intersection of Bothell-Everett Highway and 132nd Avenue. Beside Safeway, another key tenant in the center is Blockbuster Video. "It's a nice little institutional investment in a fast-growing trade area near Everett," says Sleeth.
Pan Pacific, a San Diego County CA-based REIT completed its acquisition of Western Properties Trust this past November. According to its website (www.pprp.com/) Pan Pacific is now the West Coast's largest neighborhood shopping center REIT. Of its 111 properties totaling in excess of 15 million sf, 11 are in Western Washington.
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