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Everett Plaza Changes Hands for $7.95M

EVERETT, WA-The decades-old shopping center sells for $7.95 million to Asia First Inc., a Puget Sound area property management company. The facility is about 90 percent leased.

By Gina Binole | Updated on June 02, 2002

EVERETT, WA-The Everett Plaza Shopping Center has sold its 35-year-old, 80,000-sf facility at the corner of 52nd Street and Evergreen Way.

Stan Rosen, of the Bellevue, WA-based Rosen-Harbottle Commercial Real Estate that brokered the deal, says the sellers had owned the property for 35 years and its depreciation prompted them to exchange it for a larger property. In fact, the Everett Plaza Shopping Center Partnership bought a Tukwila shopping center earlier this month for $11.7 million. The 85,000-sf Parkway Square shopping center is anchored by Toys R’ Us, Magnolia Hi-Fi and Sterling Jewelers.

The Everett Plaza shopping center sits on six acres. It was built in 1967 and renovated in the late 1990s. Major tenants include Washington Mutual Home Loan Center and the state Department of Licensing. Krista Haverly of CB Richard Ellis handles the leases for the shopping center.

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