Investment Overview

Marcus & Millichap has been selected to exclusively market for sale Nisqually Plaza, a dominant, grocery anchored shopping center in Yelm, WA. The largest shopping center in Yelm, the property is 93% occupied with five new leases executed in the past year. There are three available suites and a developable pad site providing investor upside. Anchored by Grocery Outlet, Harbor Freight Tools, O'Reilly Auto Parts, Dollar Tree, and Goodwill, and shadow anchored by Safeway, the center serves as the focal point of Yelm's retail economy. Nearly 69% of GLA is leased by tenants in place over five years, and all tenants operate on NNN leases. O'Reilly Auto Parts recently expanded by 20% after nearly 30 years at the property, and MultiCare Health Systems just signed a new 10-year lease. The property recently added 8,000 SF of new shop space and has undergone numerous renovations. A cost segregation study projects over $6 million in first-year bonus depreciation. Located on Yelm Avenue (SR 507/510) with visibility to 20,000+ VPD and a signalized intersection, the property anchors Yelm's primary retail corridor. The surrounding trade area has seen 74% population growth since 2000, with average household incomes exceeding $100,000 and a median home value under $400,000.