206-693-3352
251 Marysville Mall, Marysville, WA for Sale
Retail - FOR SALE
1/3
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251 Marysville Mall
Marysville, WA 98270
Downtown Marysville


HIGHLIGHTS

  • Grocery-Anchored, Seattle MSA: 239K SF center in fast-growing Marysville (+20% pop since 2010; incomes +17% by 2028).
  • Safeway Secured: Ground lease at $3.16/SF (below market) through 2037; rebranded in 2024.
  • Vacancies Resolved: Rite Aid ? Fitness Compound; Big Lots ? Urban Air (both 10-year deals).
  • BECU Pad: 4,000 SF BTS at $50/SF NNN, 10-year term.
  • Mark-to-Market: Multiple tenants well below market (e.g., Safeway, Burlington, JC Penney, Staples).
  • Outparcel Upside: Prior pad sales; additional monetization ahead.

OVERVIEW

Northmarq is pleased to present the exclusive opportunity to acquire Marysville Town Center, a 239,989 SF grocery-anchored shopping center located directly off Interstate 5 in Marysville, Washington, one of the fastest-growing cities in Snohomish County and the second-largest city in the county by population. The center is 99% occupied and anchored by Safeway, operating under a ground lease at $3.16/SF, well below market rate, with a lease running through April 2037. The location was converted from an Albertsons to a Safeway banner given its standing as a top 5 performing Albertsons store. Two former junior boxes, previously occupied by Rite Aid and Big Lots, have been replaced with long-term NNN leases with The Fitness Compound and Urban Air, leading to a strong WALT of 10.7 Years. A new build to suit BECU pad is permitting a 10-year NNN lease in place at $50.00/SF. These newly executed leases establish junior box market rents in the ~$15/SF range, with several existing tenants paying well below that benchmark.

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Marysville Town Center

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1988

SPRINKLERS

-

PARKING SPACES

901

LAND DETAILS

LAND ACRES

15.41 AC

LAND SF

671,260 SF

ZONING

DC

APN/PARCEL ID

005287-003-001-02,005287-003-004-00,005287-004-004-00

ASK ABOUT THIS PROPERTY

Sean TuftsNorthmarqMore Info
206-693-3352

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Sean TuftsNorthmarqMore Info
206-693-3352

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.