Riverstone Marketplace
Two Tenant Shopping Center Investment in Vancouver, WA | Shadow Anchored by QFC
Marketing description
Kidder Mathews is pleased to present the opportunity to acquire Riverstone Marketplace, a two-tenant retail center located in highly desirable Vancouver, WA.
Riverstone Marketplace is shadow-anchored by a QFC-anchored shopping center and benefits from a shared primary access point, driving consistent daily-needs traffic and strong cross-shopping activity. The property is ideally located within a growing, affluent submarket of east Vancouver along the 192nd corridor, and surrounded by national and regional retailers.
Domino's has occupied the property since 2017 and recently signed a 10 year firm term lease renewal. Mission Pet Health is in process of completing an estimated $900,000 tenant improvement for this location and is expected to open in October of this year.
Investment highlights
- Mission Pet Health operates in 42 states and has over 900 locations across the country. The tenant is completing an estimated $900,000 tenant improvement at this location, underscoring long-term commitment, with an anticipated opening in October
- Domino's has occupied this location since 2017 and recently signed a new 10 year lease extension with 3% annual increases
- Strategically positioned across from a QFC-anchored shopping center, benefiting from consistent daily-needs traffic and co-tenancy synergy
- Both tenants operate on triple-net (NNN) leases, providing full reimbursement of operating expenses and minimizing landlord responsibilities for a passive ownership structure
- Situated on SE 192nd Avenue, one of Vancouver’s most active retail corridors, serving a rapidly expanding trade area with strong residential growth and retail demand
- Located in a high-income submarket of east Vancouver, characterized by above-average household incomes, strong population growth, and a stable consumer base
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