BIANCO EXPANDS SEATTLE AREA PORTFOLIO

Tacoma (September 19, 2019)  St. Louis-based Bianco Properties announced it has acquired Tacoma Central Shopping Center located at the intersection of S. Union Ave and Highway 16 in Tacoma, WA. The 111,611 square foot shopping center is shadow anchored by Target and Hobby Lobby and features a roster of national tenants including TJ Maxx, Petsmart, Office Depot and Dollar Tree.

                                                                      
“We are excited to add Tacoma Central as the third property in our Puget Sound portfolio,” explained Josh Bacott, Vice President – Acquisitions of Bianco Properties. “This acquisition gives us another high-performing center that we feel is well positioned to serve the rapidly growing Tacoma market.”

“Capital Pacific is pleased to have worked with Kimco Realty and Bianco Properties on the successful sale of Tacoma Central Shopping Center,” said Kevin Adatto, Sean Tufts & Michael Horwitz who represented both sides in the transaction. “This high performing and well positioned center supports some of the strongest tenant sales in the market and is further evidence of capital inflows for well-located assets.”

Bianco’s Washington portfolio includes Rainier Place in Tacoma and Alderwood Crossing in Lynnwood. Its primary focus is retail and industrial investment opportunities with an objective to continue expanding its presence in the Puget Sound area.