Washington

KIRKLAND, WASH. — The Village at Totem Lake LLC, a joint venture between CenterCal and PCCP, has acquired Totem Lake Mall in Kirkland for $35.5 million. The 290,000-square-foot mall is located at 12601 120 Ave. The JV plans to redevelop the 40-year-old mall into a modern center with a “village feel.” The new iteration will be a mixed-use grocery and theater-anchored center with retail, residential, entertainment, office and other components. The renovation will begin in about one year. Current tenants at the center include KeyBank, AutoZone and Ross Dress for Less. The sellers were Developers Diversified Realty and Coventry Real Estate Advisors.

SEATTLE — Donahue Schriber Realty Group has acquired Interbay Urban Center, an 80,560-square-foot shopping center in Seattle, for an undisclosed sum. The center is located at 1827 15th Ave. Interbay is anchored by Whole Foods Market. It is situated just three miles northwest of Downtown Seattle near the communities of Magnolia, Queen Anne, Ballard and Interbay. The center is fully leased. This is Donahue Schriber’s third Seattle-area acquisition in the past four months.

TACOMA, WASH., AND SAN JOSE, CALIF. — Donahue Schriber Realty Group has picked up two retail assets in Washington for a total of $67 million. The buy includes Lakeland Town Center, a 125,142-square-foot neighborhood shopping center in Auburn, a suburb just northeast of Tacoma, and Westgate North, a 128,630-square-foot shopping center in Tacoma. Lakeland Town Center is occupied by notable tenants like Haggen Northwest Fresh, Starbucks, McDonald’s, Subway and Verizon. It is situated along Lake Tapps Parkway. Westgate North is anchored by Safeway and Ace Hardware. Additional tenants like Chase Bank, Round Table Pizza, KeyBank and Anytime Fitness round out the roster. These acquisitions follow on the heels of two additional retail purchases in California. Donahue also recently acquired Village Oaks Shopping Center, a 320,000-square-foot center in San Jose that is anchored by Target and Safeway, and Gilman District, a 91,300-square-foot center in Berkeley that is anchored by Whole Foods Market.

SEATTLE — A four-property retail portfolio in Seattle has received $64 million in financing. The transaction includes acquisition financing for a 49,000-square-foot shopping center in Bellevue that is anchored by Walgreens and Trader Joe’s. It also allowed the borrower to refinance Mill Creek Town Center, a 182,000-square-foot, grocery-anchored lifestyle center in Mill Creek, as well as two retail properties in Kirkland and Bellevue. The fully amortizing, cross-collateralized loans were arranged by Mike Taylor and Patrick Taylor of Newmark Realty Capital. The loans were placed through a relationship with one of Newmark’s correspondent life insurance companies.