Lakha Willows Properties LLC, a partnership led by Bellevue real estate investor Amin Lakha, recently purchased the seven-building Meridian Place Shopping Center, located at 11701 Meridian East in Puyallup. The center has approximately 123,000-sf of retail space.
Reynolds Haas and Tom Abbott of Cushman & Wakefield represented Lakha Willows Properties, while Capital Pacific LLC represented the seller, Alamo Group.
About a week before this purchase, the investment company plunked down $21.9 million for the Lake Meridian Marketplace in Kent. The retail center, which is located at Kent-Kangley Road and 132nd Avenue Southeast, is anchored by Albertson's and Bartell Drug. Tenants include Starbucks, 24 Hour Fitness, Bank of America, Shari's Restaurant and John L. Scott.
Lake Meridian Marketplace was sold by Jacksonville-based Regency Centers LP, which represented itself. Colliers handled the transaction for Lakha.
The properties were both fully leased at the time of purchase.
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