11904 Meridian Avenue East Listing Details & Market Data

We are pleased to present the exceptional opportunity to acquire Meridian Square, a strong performing retail strip center at the heart of one of the most sought-after retail corridors in the State of Washington.

With incredible historical occupancy averaging 18.6 years, each tenant’s longevity speaks to the unmatched strength of the asset. Together with the opportunity to lease-up vacant space and increase below-market rents, this asset offers the desirable combination of stability and upside.

Offered for sale for the first time in 24 years, Meridian Square is a highly sought-after asset that rarely comes available in the Pacific Northwest.

- Tremendous historical occupancy of 18.4 years, demonstrating the unmatched stability of the tenants.

- Prime location in one of the top retail corridors in Washington that boasts some of the strongest performing stores in the State.

- Desirable near-term upside from the lease-up of vacant space and increasing below-market rents.

- Excellent anchors in Goodyear Tire and Kitsap Credit Union, providing prominent brand recognition to the center.

- Strong surrounding retail leasing market with an average market rent of $25.64 and 3.2% vacancy within a one mile radius.

- Located at a high-traffic, signalized intersection with 43,700 VPD, providing prominent visibility and accessibility.

- Strong demographic profile with an average household income of ±$127,000 and ±187,000 residents within a five-mile radius.