SEATTLE, December 18, 2013 – Meriwether Partners announced the $12.75 million sale of Wallingford Plaza in Seattle, Washington to an institutional investor.
Wallingford Plaza was acquired in June 2011 from Banner Bank. The 3-story commercial building was 75% leased (including a new lease with Walgreens for the entire ground floor retail space and a portion of the second floor) at the time of acquisition. Base building upgrades and tenant improvements associated with the new Walgreens lease began immediately after closing and the remaining office space was leased in 2013. Occupancy at the time of sale was 100%.