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ROIC Acquires Bellevue Retail Property For $49M


Retail Opportunity Investments Corp (ROIC) bought the 113k SF Sternco Shopping Center in Bellevue for $49M from a local owner who had held the property for more than 30 years.

The shopping center is on more than 10 acres at 14625 Northeast 20th St and has no vacancies.

It attracted a lot of attention among investors, including REITs and other institutional capital, according to The Registry, quoting Colliers International's Paul Sleeth. He and colleague Billy Sleeth repped the seller in the deal. [TR]