**JLL Arranges $37 Million Sale of Grocery-Anchored Westgate North in Tacoma**
JLL has facilitated the $37 million sale of Westgate North, a grocery-anchored shopping center located in Tacoma, Washington.
JLL represented the seller in the transaction, while the buyer was Phillips Edison & Company. Strategically situated at 2601 N Pearl Street, at the intersection of North Pearl Street and North 26th Street in Tacoma’s West End submarket, Westgate North benefits from a prime location with strong consumer visibility and access.
The JLL Capital Markets Investment Sales and Advisory team managing the transaction was led by Senior Managing Directors Gleb Lvovich and Geoff Tranchina, along with Managing Director Daniel Tyner.
“The Westgate North sale exemplifies the strong investor interest in high-quality, grocery-anchored retail assets across the greater West Coast,” said Tyner.
The 74,789-square-foot neighborhood center is 97.9% leased to a diverse roster of national and local tenants. It is shadow-anchored by a high-performing Safeway, noted as one of the chain’s top-performing locations nationally. Additional notable tenants include Ace Hardware, Taco Bell, Chase Bank, Franciscan Health System, and Anytime Fitness.
