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Marcus & Millichap Brokers $9.4M Sale of Towne Square Retail Center in Port Orchard, Washington

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Grocery Outlet, Goodwill and Ace Hardware are anchor tenants at Towne Square Retail Center in Port Orchard, Wash.

PORT ORCHARD, WASH. — Marcus & Millichap has arranged the sale Towne Square Retail Center, a retail property located at 1700 S.E. Mile Hill Drive in Port Orchard, approximately 24 miles west of Seattle. A private investor sold the asset to an undisclosed buyer for $9.4 million.

Grocery Outlet, Goodwill and Ace Hardware are anchor tenants at the 154,604-square-foot retail property, which also includes a two-story interior mall space with more than 100 tenants. The buyer plans to renovate the asset, increase occupancy levels and improve management systems.

Clayton Brown and Ruthanne Romero of Marcus & Millichap represented the seller in the deal.

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