Updated Dec 4, 2024
David Lichtenstein Of Lightstone Acquires Retail Property In Auburn For $82M
1101 Outlet Collection Way
$82,000,000
$89/SF
Building Size
920,000 SF
Asset Type
Retail
Closing
Nov 22, 2024
About this deal
AI
The Outlet Collection Seattle, a retail property, was sold at 1101 Outlet Collection Way, Auburn, WA. The sale occurred on November 22, 2024, for $82,000,000. This asset has a total square footage of 920,000 and features a price per square foot of $89. It is currently 98% leased and includes notable tenants like Nordstrom Rack, Burlington, and Nike.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $82,000,000
- Square Footage: 920,000
- Address: 1101 Outlet Collection Way
- Market: Auburn, WA
- Buyer: David Lichtenstein
- Buyer’s Company: Lightstone
Lightstone acquired the Outlet Collection Seattle from Washington Prime Group and plans to invest over $10,000,000 in capital improvements following the purchase.
On the Map
$82,000,000
$89/SF
Retail
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Players
Auburn Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93