Safeway-Anchored Retail Center Sells for $35.4M in West Seattle
JLL has facilitated the $35.4 million sale of Admiral Junction, a grocery-anchored retail center located in the heart of West Seattle’s affluent Admiral submarket.
The buyer, Silver Star Ventures, was represented by JLL Capital Markets’ Investment Sales and Advisory team, led by Managing Director Daniel Tyner, along with Senior Managing Directors Geoff Tranchina, Gleb Lvovich, and Zach Koucos.
Admiral Junction spans 67,992 square feet and is fully leased. The center is anchored by a 60,876-square-foot Safeway store, which accounts for 82% of the property. The remaining 7,116 square feet comprise a separate retail shoppes building. The center benefits from a strong tenant mix and a highly visible location.
Strategically positioned at 2620 California Avenue SW, at the intersection of Admiral Way and California Avenue, Admiral Junction sits along West Seattle’s main commercial corridor.
“Admiral Junction represented a rare opportunity to acquire an infill core grocery-anchored asset in West Seattle with a strong-performing grocer,” said Tyner. “The property’s exceptional location, strong demographics, and stability made it an attractive opportunity for the buyer.”
