Newmark recently facilitated the sale of Village at Redmond Ridge, a popular retail center situated at 23515 NE Novelty Hill Road in Redmond, Washington. The property was sold for $41.05 million.
The transaction was represented by Newmark Executive Managing Directors Billy Sleeth and Paul Sleeth, who worked with both the buyer – Panos Properties LLC – and seller – Woodbury Corporation.
Spanning over 66,866 square feet, Village at Redmond Ridge is a thriving retail center with full occupancy. It features a successful QFC/Kroger grocery store as its anchor tenant and other well-known businesses such as Village Dentistry, Great Clips,Wells Fargo,Kiddie Academy ,KeyBank,McDonald’s,and Starbucks . Its strategic location near the bustling Redmond Ridge Business Park adds to its appeal as it offers various flex/R&D spaces along with industrial and warehouse developments spread across 100 acres.
According to Billy Sleeth,”Village at Redmond Ridge is undoubtedly one of the top-performing neighborhood centers in its trade area.” He also believes that it will continue to attract growth opportunities within this corridor due to its exceptional performance record.
