The Landing at Sleater Kinney is a true value-add opportunity where one can find immediate upside by leasing the vacant suites and increasing the existing rents to rates which are closer to market.
There is no value being placed on suites 10, 12 and 15 which represents 6,200 SF of leaseable area and future growth to the NOI. Seller will guaranty the rent on suite 4040 which is the structure on the hard corner at $18.00/psf NNN for 1 year. The shopping center is set directly on the intersection of Sleater Kinney & Pacific Ave. which is the most desirable retail setting in the surrounding marketplace.
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