Nat Franklin, owner of the 99,200-sf site at 22511 state Route 99 and the former Kmart space at 15015 Main St. in Bellevue, Wash., declined to tell GlobeSt.com the specifics of the deal. But he says the primary term's in excess of 15 years.
99 Ranch Market has leased 77,000 sf, and Rite Aid has inked a deal to occupy 22,000 sf. The grocer, which also has one other state store in Kent, likely will sublet about 20,000 sf of space it does not intend to use.
Franklin says he had numerous inquiries for the space before settling on these two tenants. He also reports he's been talking with several nationally-known retailers regarding the former Kmart site in Bellevue.
"We have lots of interest, but as yet, I'm not ready to sign the lease," Franklin says. He anticipates a deal for that space will be inked by the end of September.
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