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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.