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January 10, 2018

Shopping center sells for $77.5M

RENTON — The Fairwood Shopping Center, at 14000 S.E. Petrovitsky Road in Renton, has sold for $77.5 million, according to King County records.

The seller was TRC Fairwood Shopping Center LLC, previously known as Terramar Retail Centers, which acquired the property in 2000 for $23.8 million.

The buyer was GRI Fairwood LLC, which is associated with Global Retail Investors. GRI is a venture between First Washington Realty of Bethesda, Maryland, and the California Public Employees Retirement System, or CalPERS.

Brokers, if any, were not announced.

Developed in 1970 on about 15 acres, Fairwood has about 215,000 square feet of retail space. Tenants include Safeway, LA Fitness, Ace Hardware, Chase Bank and Bartell.

The shopping center is southeast of downtown Renton, near the Fairwood Golf & Country Club.


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