Hillyard shopping center changes hands for $17.65M
Tenants at retail center include Panda Express, Mod Pizza, SafewayApril 8th, 2021
A 66,500-square-foot shopping center in Spokane’s Hillyard neighborhood has sold to Spokane-based investment company Sinto Properties LLC.
The company purchased the multitenant property, which is located on the 3900 block of north Market Street, for $17.65 million, according to Spokane County Assessor’s Office Records.
The multi-building property currently houses a Safeway grocery store and gas station, totaling about 55,900 square feet of space.
The site also hosts a mix of restaurants and retail services. Mod Pizza, Panda Express, Great Clips, Subway, and Top Nails outlets also reside in the shopping center, which is just southeast of Shaw Middle School, on the northwest corner of Garland Avenue and Market Street.
A real estate agent from Seattle-based Capital Pacific LLC represented the seller, Seattle-based Marketplace at Hillyard LLC, in the transaction. Denny York, of Coldwell Banker Tomlinson, in Spokane, represented the buyer.
York says Sinto Properties purchased the shopping center as an investment. He declines to disclose further details about the transaction, citing the buyer’s wish to remain anonymous.
The Washington Department of Revenue database lists James Wolff and Mahugh Family LLC as governing agents of Sinto Properties.
Mahugh Family LLC is helmed by Greg and Karin Mahugh, Department of Revenue records show. Greg previously worked as senior vice president of operations for McConkey Auction Group, and is a member of The Cronkites, a rock band based in the Pacific Northwest that has opened for national bands like Chicago, Pat Benatar, Heart, Foreigner, and Lynyrd Skynrd at DAA Northwest’s two-day “Rock & Roll Sale” annual event.