Kidder Mathews is pleased to present Mount Vernon Center, a 100,155 SF neighborhood retail center located along the I-5 corridor in the Puget Sound Region of Washington State.

The center is anchored by Grocery Outlet and Ross Dress for Less, two of the nation’s leading value retailers representing 41% of the GLA. The center benefits from staggered anchor lease expirations separated by approximately five years, minimizing rollover risk and providing future ownership with a clear and manageable renewal runway.

Postioned along a high-traffic corridor with seamless ingress and egress, the property benefits from a diverse mix of daily-needs and service-oriented retailers that drive repeat visitation.

On Riverside Drive & East College Way

Grocery Outlet Location Nationwide

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Two nationally recognized value-oriented retailers serve as the primary traffic drivers for the center, supporting the surrounding tenants and generating consistent daily visitation.

Mount Vernon Center maintains strong occupancy with a stable mix of national and long-standing local tenants, with 34% of tenants occupying the center for 14+ years.

Anchor lease expirations separated by approximately five years provide future ownership with a manageable renewal schedule.

Positioned within a dominant retail corridor just off Interstate 5, surrounded by national retailers including Safeway, Hobby Lobby, Tractor Supply, Petco, etc., with 38,695 vehicles per day along E College Way.

Meaningful mark-to-market opportunity as leases roll, providing a clear path to NOI growth while anchor tenancy remains stable.

The offering represents a substantial discount to estimated replacement costs for comparable retail centers, providing investors with a significant basis advantage.

Mount Vernon serves as the commercial and economic hub of Skagit County, strategically located along the I-5 corridor between Seattle and Vancouver, British Columbia. With a population of approximately 36,000 residents, the city anchors a broader regional trade area of roughly 130,000 people, functioning as the primary retail and service center for the Skagit Valley.

Mount Vernon draws consumers from surrounding communities including Burlington, Sedro-Woolley, and other nearby population centers, reinforcing its role as the dominant retail node in the region. This broad trade area, combined with limited competing retail corridors, supports steady demand for goods and services.

With direct access to Interstate 5 and regional connectivity throughout the Puget Sound and into British Columbia, Mount Vernon benefits from strong accessibility and long-term growth fundamentals. Ongoing population growth and its position as a supply-constrained retail market continue to support durable tenant demand and investment stability.

MAGGIE VERGER
Vice President

206.600.8500

maggie.verger@kidder.com

KEVIN VERGER
Vice President

206.946.9425

kevin.verger@kidder.com