20030 Ballinger Way NE
Shoreline, WA 98155

The Offering provides the Opportunity to acquire a 7,097 SF retail center shadow anchored by Ballinger Village, a regional retail center anchored by a high-performing Thriftway Grocer. The Property is 100% leased to five tenants with all food and service-oriented uses; including Domino’s Pizza, Kumon, Pilates Northwest, Mama’s Grill’n Bento, and the Tutu School. Domino’s, Mama’s Grill ’n Bento, and Kumon comprise nearly 60% of the GLA and have occupied the premises since construction nearly ten years ago. They have each executed a recent extension. The Property is located directly at the convergence of I-5 and Hwy 104, one of the busiest corridors in the Puget Sound and benefits from its close proximity to Ballinger Village, which pulls from a wide radius as Thriftway is one of only four grocers within two miles. The Ballinger neighborhood is experiencing tremendous growth, with over 1,700 apartment units either under construction or recently built within 1.5 miles of the Property. This includes Quinn by Vintage, a 277-unit apartment building directly across the street from the Property. The increase in population is supported by additional light rail stops, including the Mountlake Terrace stop that sits just one mile from the Property. Between the surface lot and brand new multi-level garage, there are over 700 new parking spots at the Mountlake Terrace stop. This ensures convenient transportation between the station and nearby retail. Please follow this link for more information: https://hubs.la/Q02YPx-M0