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.