Lakewood Square
8.05% Current CAP | $161 PSF | 89% Occupancy
Marketing description
- Goodwill recently signed a 10 year lease extension and has 20+ years of occupancy at Lakewood Square
- Majority of leases feature 3%+ annual increases
- Offered at $161/SF – Well below construction cost
- Excellent mix of national and local tenants
- AI and e-commerce resistant tenants
Investment highlights
Kidder Mathews is pleased to present the opportunity to acquire Lakewood Square, a multi-tenant neighborhood shopping center anchored by credit tenant Goodwill.
Goodwill has operated at the center since 2004 and executed a new 10-year lease extension in July 2024. The property includes five buildings featuring a well-rounded mix of national and local tenants, offering value retail, dining, and service-based uses.
Strategically positioned at a signalized intersection in a high-traffic area, Lakewood Square provides convenient access from both Mt. Tacoma Drive and Lake Grove Street. Located within the Central Business District (CBD), the property benefits from strong connectivity, surrounded by bus stops and just a 15-minute drive to several Link Light Rail stations. Nearby points of interest include St. Joseph’s Hospital, South 25th, Hilltop District, Union Station/South 19th, and the Convention Center/South 15th. Lakewood Station and South Tacoma Station are also just five minutes away, offering excellent regional accessibility.
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