Marcus & Millichap Arranges the Sale of a 14.18 Acre Shopping Center in the Tri-Cities

Tri-Cities, WA — June 26, 2025 — Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, has successfully facilitated the sale of a premier 14.18-acre shopping center in the heart of the Tri-Cities retail trade area, according to Joel Deis, regional manager of the firm’s Seattle office. Financing was provided by Ray Allen with Marcus & Millichap Capital Corporation. The off-market transaction marks the first sale of the high-visibility Tri-Cities Center in over four decades and represents a major repositioning opportunity for the buyer.

Located at arguably the best corner in the Tri-Cities MSA, the center includes five pad buildings and a mix of national tenants, including one of the top-performing Burlington stores in the western United States.

“This asset represents exactly the kind of opportunity we seek — irreplaceable real estate in a growing market with strong in-place income and clear value-add potential,” said Seth Startup, founder of Startup Development Partners. “We look forward to modernizing the center and creating long-term value for our tenants and partners.”

Clayton J. Brown, Senior Managing Director at Marcus & Millichap added, “We are beyond excited to announce the sale of the Tri-Cities Center and look forward to seeing the center modernized with new national and regional credit tenants for the benefit of the patrons of Kennewick and the greater Tri-Cities MSA”.

The Tri-Cities Center will be embarking on a transformative modernization project aimed at revitalizing the shopping center’s presence and appeal. Plans include a multiple building façade and storefront renovation unifying and elevating the property’s aesthetic, strategic tenant repositioning and active operational oversight. The renovations will be guided by newly released architectural renderings (see below) that reflect a clean, modernized vision for the center. The current revitalization efforts are part of a long-term strategy to enhance the tenant experience and bring renewed vibrancy to the center.

“These strategic capital improvements are designed to position the Tri-Cities Center as a premier retail shopping destination in the region,” added Brown.

Brown Retail Group and Marcus & Millichap have been very active in shopping center and net lease investment sales in eastern Washington recently, with 47 transactions completed for over $120,000,000 in consideration since the start of 2023. 

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.