REBusinessOnline

Matthews Real Estate Negotiates $8.3M Sale of Albertsons-Occupied Asset in Millwood, Washington

MILLWOOD, WASH. — Matthews Real Estate Investment Services has negotiated the sale of a retail property located at 8851 E. Trent Ave. in Millwood, a suburb of Spokane. An undisclosed buyer acquired the asset for $8.3 million in an off-market transaction.

Situated on 3.7 acres within a major shopping center, the property features 46,798 square feet of retail space and was built in 1991. Albertsons currently occupies the property on a 20-year lease. Additional tenants at the shopping center include Dairy Queen, Banner Bank, Redbox, Taco Time, Papa Murphy’s Take ‘N’ Bake, Scollard’s Dry Cleaning and Starbucks Coffee.

Aron Cline of Matthews Real Estate Investment Services handled the transaction. Barrington Capital Corp. provided acquisition financing for the deal. The name of the seller was not released.

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