Overview
This offering presents a rare opportunity to acquire a 100% leased, two-tenant grocery-anchored retail asset located within Normandy Park Towne Center in the high-income, waterfront community of Normandy Park, WA, just south of Seattle. The property is anchored by Grocery Outlet, which recently executed a new 10-year lease, providing a stable and reliable income stream. Auntie’s Playhouse, a well-established childcare and early education center, complements the anchor with essential community-serving use and consistent daily traffic. Auntie’s current lease has approximately six years remaining with annual rent escalations. This contributes to a weighted average lease term (WALT) of 6.87 years.
Investment Highlights
GROCERY OUTLET-ANCHORED INVESTMENT
Anchored by a newly opened Grocery Outlet, which executed a 10-year lease in 2024 and officially opened in August 2025, providing secure, long-term income and strengthening the tenant mix at Normandy Park’s premier neighborhood retail center.
100% LEASED
Fully leased two-tenant building, which is a testament to the quality and location.
ESTABLISHED CHILDCARE TENANT
Auntie’s Playhouse has operated at the property for over 9 years and recently renewed its lease, which includes 6 years remaining and 2% annual rent increases, ensuring stable income growth and long-term tenancy.
STRATEGIC LOCATION
Located within Normandy Park Towne Center, the dominant neighborhood retail hub in an affluent South Seattle suburb. The property enjoys excellent visibility and access along 1st Avenue South and proximity to Highway 509.
AIRPORT PROXIMITY
Just 2 miles from Seattle–Tacoma International Airport (SEA), which serves 52 million passengers annually and generates over $33 billion in regional economic impact.
STRONG DEMOGRAPHICS
Affluent trade area with more than 69,000 residents within 3 miles and average household incomes exceeding $170,000 within 1 mile.
ESSENTIAL-USE TENANCY
Complementary tenancy with Auntie’s Playhouse, an established childcare and early education operator, driving consistent daily traffic and reinforcing community engagement.
E-COMMERCE-RESISTANT TENANTS
Both tenants provide essential daily-need services insulated from e-commerce and economic volatility.
HIGH-QUALITY CONSTRUCTION / CURB APPEAL
Modern construction with attractive architectural design, abundant parking, and pedestrian connectivity within the Towne Center.
TERMS OF THE OFFERING
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