Terramar Retail Centers Gets Off-Market Deal

BOTHELL, WA-Terramar Retail Centers LLC has paid $35 million for Canyon Park Place, a 130,786-square-foot neighborhood retail center here in an off-market transaction. The center, located within the I-405 corridor at the intersection of 228^th Street and Bothell-Everett Highway, is anchored by a 45,772-square-foot QFC grocery and an 11,948-square-foot Bartell’s Drug.

“The center has a highly performing grocer and drug store, and its ability to serve the daily needs of the residents of Bothell and workers in the region has allowed it to maintain a solid track record of high occupancy and stability through this recent market downturn,” says Terramar’s vice president of acquisitions, Matthew Smith.