Phoenix-based Vestar, which has had a strong appetite for retail properties in the western states, recently acquired the 140k SF James Center in Tacoma for more than $31M. "The property James fits well in our acquisition strategy of investing in grocery-anchored centers with strong demographics," Vestar VP of acquisitions Clint Marchuk tells us.
The property is at 6901 S 19th St directly across from Tacoma Community College, which enrolls nearly 14,000 students per year; Fred Meyer and Rite Aid are anchors. The center offers a key location in an infill area that continues to grow in population and workforce numbers, Clint notes. Over the past 12 months, Vestar has acquired five retail centers in the West for about $670M.
