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December 31, 2020

MDG buys old Shoreline shopping center for $12M

By BRIAN MILLER
Real Estate Editor

The Shops at Richmond Village, at 600 N.W. Richmond Beach Road in Shoreline, has sold for $12.2 million, according to King County records. The buyer was Richmond Village Retail LLC, which is associated with Madison Development Group of Issaquah. Public records indicate a loan from Washington Trust Bank.

New owner MDG did apply recently for a lot line adjustment (there are two parcels with about 5.3 acres), but no new building plans have been filed. The company, led by Tom Lee and Jim Gallaugher, does both retail and mixed-use development.


 
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