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4110 & 4250 NE 4th StRenton, WA 98059
Renton Highlands Shopping Center
Asset ClassRetail
SAFEWAY SHADOW ANCHORED, VALUE-ADD RETAIL ASSET WITH STRONG NATIONAL TENANTS
overview of deal

Overview

Renton Highlands Shopping Center presents a Safeway shadow-anchored center with successful national anchor tenants, strong cash flow, and immediate leasing upside in a high-income trade area of the Puget Sound Region.

 

• Shadow-anchored by a top-performing Safeway

• 5-year WALT

• 11+ years remaining on The Goddard School lease

• DaVita exercised a 5-year lease extension in 2025

• Petco exercised a 5-year lease extension in 2024

• Break-up opportunity

• 82% leased, providing leasing upside

• $152K average household incomes and 104K residents within a 3-mile radius

• 9 miles to Downtown Bellevue and 16 miles to Downtown Seattle

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Investment Highlights

DIVERSE TENANT ROSTER AND STABLE INCOME STREAM

  • 87% of the income stream is comprised of national and credit-grade tenants, including Goddard School, Petco, AutoZone, DaVita, and Chase Bank.
  • The Center features a strong anchor line-up of DaVita Dialysis, Goddard School, and Petco, providing long-term, reliable cash flow.
  • Goddard School recently signed a 15-year lease with 10% rental increases every 5 years (11+ years remaining).
  • The 5-year WALT provides term and stability to the offering.

SHADOW-ANCHORED BY TOP-PERFORMING SAFEWAY

  • The Center benefits from direct adjacency to a high-performing Safeway.
  • Safeway ranks in the top 16% of stores in the U.S. for total visits (Placer.ai).

QUALITY SITE LAYOUT & ACCESSIBILITY

  • Situated in the core of the Renton Highlands trade area, the Center benefits from excellent visibility, high daily traffic counts, and easy ingress and egress for customers.
  • The Center offers outstanding connectivity to I-405, Downtown Renton, the Eastside tech corridor, and a densely populated residential community.

FUTURE BREAK-UP OPPORTUNITY

  • The free-standing AutoZone, multi-tenant shop building, and anchor tenant building are all on seperate parcels providing future break-up opportunity.

 

 

 

Investment Summary

Terms of the Offering
Price
Best Offer
Year 1 NOI
$1,034,435
As-Is Occupancy
82% Leased
Year 2 Stabilized NOI
$1,324,381
Building Area
54,264 SF
Land Area
5.01 Acres
Debt
Offered Free & Clear
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4110 & 4250 NE 4th StRenton, WA 98059

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Listing provided by Revere CRE