Vestar acquires retail center in Seattle area for $31.4 million

Tacoma, Wash. -- Vestar announced that it has acquired James Center in Tacoma, Washington for $31.4 million.



James Center is a 140,240 sq. ft., situated on 15.95 acres directly across from Tacoma Community College.



The center includes anchor tenants, Fred Meyer and Rite Aid, as well as Starbucks, Subway, Verizon, Menchie’s, U.S. Bank, IHOP, FedEx Kinko’s and Ivar’s.



“James Center fits well in Vestar’s acquisition strategy of investing in grocery anchored centers with strong demographics,” said Clint Marchuk, VP of acquisitions for Vestar. “This asset offers a key location in an infill area that continues to grow in population and workforce numbers.”



Over the past 12 months, Vestar has acquired five retail centers valued at $670 million throughout the western states.