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JKL Real Estate Investment L.P. recently purchased the 30K SF Everett Mall Way Plaza for $6.2M. The two-building development, on the main arterial Everett Mall Way, has about 30 spaces that include ground-level retail and second-floor professional offices.
There is a Target, a Starbucks and a Trader Joe’s across the street. Everett Mall and Walmart are nearby.
Robinson Properties & Investments LLC was the seller.
“Besides the high going-in CAP rate, Everett Mall Way Plaza represented a significant investment opportunity due to the upside for even higher returns in both the existing space and future expansion area,” Colliers International’s Xinxin Li said in a statement. “The City of Everett has acknowledged plans for a third building in the southeast portion of the property."
Li and DBW Private Brokerage’s Godwin Moy represented JKL.
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