Sterling Realty Divests of 103,141 SF Lynnwood Crossroads Retail Center in Lynnwood, Washington

by Amy Works

LYNNWOOD, WASH. — Bellevue-based Sterling Realty Organization has completed the sale of Lynnwood Crossroads, grocery-anchored shopping center in Lynnwood. Orange County, Calif.-based Sakioka Farms acquired the asset for $45 million in an all-cash 1031 exchange transaction.

Billy Sleeth and Paul Sleeth of Newmark represented the seller, while Pete Bethea, Glenn Rudy and Rob Ippolito of Newmark represented the buyer in the transaction.

Sprouts Farmers Market, LA Fitness, Starbucks Coffee, Jersey Mike’s Subs, Five Guys, The Joint Chiropractic, Great Clips and Qdoba are tenants at the 103,141-square-foot retail space. At the time of sale, the property was 100 percent leased.

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