**Grocery-Anchored Retail Center in Tacoma Trades Hands for $37 Million**
JLL has facilitated the $37 million sale of Westgate North, a grocery-anchored shopping center located in Tacoma, Washington. The buyer, Phillips Edison & Company, acquired the property from an undisclosed seller, with JLL representing the seller in the transaction.
Strategically located at 2601 North Pearl Street—at the intersection of North Pearl Street and North 26th Street—in Tacoma’s West End submarket, Westgate North is a 74,789-square-foot neighborhood retail center. The property is currently 97.9% leased to a diverse tenant mix of both national and local retailers.
Westgate North is shadow-anchored by a high-performing Safeway store, noted as one of the top-performing locations nationwide. Other major tenants include Ace Hardware, Taco Bell, Chase Bank, Franciscan Health System, and Anytime Fitness.
JLL Capital Markets’ Investment Sales and Advisory team leading the transaction included 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 deal highlights continued demand in the retail sector, particularly for well-located, necessity-based assets.
