January 21, 2021 10:00 AM
Newmark and Eastdil Secured announce the sale of a portfolio comprised of eight single-tenant NNN Haggen grocery stores totaling approximately 436,000 square feet.
Newmark’s Executive Managing Directors Paul Sleeth and Billy Sleeth and Associate Patrick Allen, in cooperation with Executive Managing Director Matt Berres, co-represented the confidential seller with Eastdil Secured.
The eight properties are located north of Seattle at 1815 Main Street in Ferndale, 2814 Meridian Street in Bellingham, 210 36th Street in Bellingham, 1401 12th Street in Bellingham, 757 Haggen Drive in Burlington, 2601 E Division Street in Mount Vernon, 26603 72nd Avenue NW in Stanwood and 3711 88th Street NE in Marysville.
The portfolio is situated in highly desirable submarkets surrounding Seattle’s metro area with limited competition and high barriers to entry. Haggen, which is owned by parent company Albertson’s, has operated as a premier grocer in the state of Washington since 1933. The portfolio provides steady cash flow with substantial lease terms remaining.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2019, Newmark generated revenues in excess of $2.2 billion. To learn more, visit nmrk.com or follow @newmark.
Discussion of Forward-Looking Statements About Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.