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West Coast Merchant Builder Marketing Another Shopping Center

AUBURN, WA-The Office Max-anchored, 45,951-sf center in the middle of the shopping district here is listed at $7.29 million. The 3-year-old property's owner is ready to sell and move on to his next project.

By Janet Parker | Updated on January 29, 2001

AUBURN, WA-Bob Cahan of San Diego, CA-based Cahan Properties Inc. spends his time building and selling shopping centers up and down the West Coast. The 45,951-sf Auburn Center at 901 Auburn Way N. is one such property, and it’s selling time. The list price is $7.29 million.

Steve Ruggiero, president of Gig Harbor-based First American Properties, is marketing the property Cahan, whom Ruggiero describes as a “standard merchant builder.” Cahan’s developments are scattered throughout Washington, California and Nevada, says Ruggiero. The majority of them he sells, keeping only a very small portfolio for himself.

Office Max is one of 15 retail chains for which Ruggiero handles Washington real estate. In the mid-90′s Office Max had decided it wanted to build a store here. The 4.32-acre surplus parcel it purchased from Fred Meyer was too large for just a single-tenant, however. Auburn Center is the result.

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