Burlington North LLC Acquires Retail Property In Spokane From Burlington Stores Inc For $10.2M

A 9.4-acre retail property located at 5830 North Division Street in Spokane, WA, was sold for $10.2 million. The asset measures 175,612 square feet, resulting in a price per square foot of $58. This property includes a building occupied by Burlington and a building leased to Rite Aid, which presents redevelopment potential as Burlington plans to relocate to Franklin Park Shopping Center.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $10,200,000
• Address: 5830 North Division Street
• Market: Spokane, WA
• Square Footage: 175,612
• Price per Square Foot: $58
• Buyer: Burlington North LLC
• Seller: Burlington Stores Inc
• Brokers: Kyle Herting, Sydney Dixon & Yohar Renaud - CBRE

The transaction involved Burlington North LLC, which is led by Ben Hawkins and Kevin Edwards. The sale was facilitated by brokers Kyle Herting, Sydney Dixon, and Yohar Renaud from CBRE. The property sold includes both a Burlington-occupied facility and a Rite Aid-leased building.