Search
 

Everett Mall Owner Sells Adjacent Center

EVERETT, WA-Steadfast Cos. of Newport Beach, CA, and its tenant-in-common partner sell the 121,000-sf Village shopping center here to a Southern California couple for $22 million.

By Brian K. Miller | Updated on April 02, 2007

EVERETT, WA-Steadfast Cos., which owns the Everett Mall, has sold the neighboring Village shopping center it developed in 2005 for $21.7 million. Located at 1124-1212 SE Everett Mall Way, the 121,000-sf center is anchored by Best Buy and PetSmart.

The new owner is SJ Investments Realty, an LLC formed by Steve and Joanne Manolakis of Southern California, according to Snohomish County public records. The couple also owns the Corona Spectrum Executive Suites in Corona, CA.

The property garnered multiple offers and the buyer assumed a $15.65 million loan at a fixed interest rate of 5.44%, according Donald MacLellan, managing director of Faris Lee Investments, the brokerage firm with the disposition assignment. Mike Pappas of Colliers International represented the SJ Investments.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.