Investment group acquires retail, restaurant buildings near WinCoJuly 18th, 2013
Fratelli's LLC, an Auburn, Wash., investment group, has bought a multitenant retail building and an adjacent restaurant building that are part of a North Side shopping center anchored by a WinCo supermarket, says Cory Barbieri, a commercial real estate broker involved in the transaction.
Fratelli's paid $3.7 million for the properties near the northwest corner of Nevada Street and Jay Avenue, which include the 10,200-square-foot Spokane Pavilion retail center and a 4,600-square-foot building occupied by a Hop Jacks restaurant, Barbieri says. Spokane Pavilion was built in 2009, and the Hop Jacks building was constructed last year.
Tenants in the retail space include Massage Envy massage therapy clinic, Selena Nails salon, and a Cricket Communications Inc. outlet. The transaction also includes 2.5 acres of land.
Barbieri and Erik Swanson, of Seattle-based Kidder Mathews, brokered the transaction.
Goodale & Barbieri will handle leasing for the property, Barbieri says.
Properties in the shopping center that aren't part of the sale include the 94,100-square-foot WinCo store and a MacKenzie River Pizza Co. building, which were built in 2008 and 2010, respectively.