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Passco Sells Eastern Washington Mall

WENATCHEE, WA-Vintage Capital Group of Los Angeles pays $32.5 million for the 339,725-sf mall anchored by Macy's, Sears, Bed Bath & Beyond and Ross Dress for Less.

By Brian K. Miller | Updated on January 16, 2008

WENATCHEE, WA-The 339,725-sf Wenatchee Valley Mall has changed hands for $32.5 million, according to the listing brokerage firm, Faris Lee Investments. The new owner is Los Angeles-based Vintage Capital Group LLC, which is led by a group of former Westfield executives. The seller was Passco Cos. of Irvine, CA.

Fronting Valley Mall Parkway on the banks of the Columbia River in Central Washington, the 28-acre development is anchored by Macy’s, Sears, Bed Bath & Beyond and Ross Dress for Less. Macy’s sits on the ground lease. The mall was 92% occupied at close of escrow.

The center was constructed in several phases. Sears and the northern portion of the mall were constructed in 1972, while the southern portion of the mall was added in 1978. In 2000, Macy’s, a Food Pavilion outparcel and Shari’s Restaurant were developed. In 2003, a Wells Fargo Bank pad and an in-line quick-service restaurant building were constructed. Other tenants include Bath & Body Works, Pac Sun, GNC, Foot Locker and Kay Jewelers.

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