4423 South Meridian, Puyallup, WA 98373 For Sale

CALL FOR OFFERS: JUNE 23RD

• Grocery-anchored neighborhood center with high-performing Grocery Outlet, operating in the 81st

percentile of all Washington stores by visitation (Placer.ai), making this one of the highest-performing

locations in the chain’s Pacific Northwest portfolio.

• Michaels has occupied the center for 26+ years and recently extended their lease through 2033.

• AutoZone has executed a brand-new 15-year lease for a new Mega Hub location with scheduled

rent growth and an anticipated opening in late 2026, adding a third national anchor to the center.

• Approximately 61% of leased GLA has been occupied by the same tenant for 5+ years.

• Diversified national and local tenant mix with staggered lease expirations extending through 2041,

including a recent 10-year extension executed by Heritage Bank in 2025 through 2035.

• Three high-visibility pad buildings offer future optionality, including a separately parceled pad

currently occupied by a Starbucks drive-thru, AT&T, and Pure Barre.

• Located on S Meridian Avenue within the trade area’s most active retail corridor, benefitting from

traffic counts exceeding 43k VPD with highway access less than one mile from SR-512 (92k VPD).

• Located within a half-mile of South Hill Mall, a regional destination drawing over 8 million annual

visits and serving a trade area of 960,000+ residents across the greater Tacoma/Puyallup market,

with several tenants ranking among the most-visited retail locations in Washington State and the

country (Placer.ai).

• South Hill is experiencing sustained residential growth with hundreds of new homes under construction

or in the pipeline within the immediate trade area. The Club at Uplands — a 320-acre master-planned

community by Tarragon — has delivered 300 of its 1,000 planned single-family homes to date.

• Pierce County is Washington’s second largest county by population and has grown nearly 17%

since 2010, outpacing statewide growth.