Updated Aug 25, 2026
Tourmaline Capital Partners Acquires South Sound Center In Lacey Washington For $44.1 Million
711 Sleater Kinney Road Southeast
$44,100,000
$114/SF
Building Size
384,200 SF
Asset Type
Retail
Closing
Aug 21, 2026
About this deal
AI
The retail property involved in the transaction is a grocery-anchored retail center located at 711 Sleater Kinney Road Southeast in Lacey, WA. The asset has a total size of 384,200 square feet and was sold for $44,100,000, translating to a price per square foot of $115.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $44,100,000
- Buyer: Tourmaline Capital Partners
- Seller: Capital Development Company
- Broker: Billy Sleeth - Newmark
The transaction was characterized by the involvement of Tourmaline Capital Partners acquiring the South Sound Center from Capital Development Company. Billy Sleeth of Newmark represented the seller in this transaction.
Players
Chisholm 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
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93