Newmark, a leading commercial real estate firm, recently facilitated the sale of Village at Redmond Ridge in Redmond, Washington for $41.05 million. The property is a popular neighborhood retail center located at 23515 NE Novelty Hill Road.
The transaction was represented by Newmark Executive Managing Directors Billy Sleeth and Paul Sleeth on behalf of both the buyer, Panos Properties LLC, and the seller, Woodbury Corporation.
Village at Redmond Ridge spans over 66,866 square feet and boasts full occupancy with top-performing tenants such as QFC/Kroger grocery store as its shadow anchor. Other notable tenants include Village Dentistry, Great Clips,Wells Fargo,Kiddie Academy KeyBank,McDonald’s,and Starbucks.The center’s strategic location near the thriving Redmond Ridge Business Park adds to its appeal.
According to Billy Sleeth,”Village at Redmond Ridge is an exceptional neighborhood center that continues to thrive due to its prime location and strong tenant mix.” He further added that “the high demand in this area will only continue to benefit this top-performing retail destination.”
