Long-time Ruston Way restaurant to remain as tenant
July 27, 2022 (Tacoma, WA) – Lee & Associates Commercial Real Estate Services is pleased to have brokered the acquisition of Duke’s Seafood building, located on the Ruston Way waterfront in Tacoma, Washington. John Bauder and Harrison Laird represented the Buyer, JGSL Partners, LLC, who purchased the property from SCG Ruston Way Restaurant LLC on July 27, 2022.
The property transacted at $6,250,000, approximately $1,179 per square foot. JGSL Partners, LLC intends to hold the property long term, keeping Duke’s Seafood as a tenant.
“We are excited for the Buyer – this was a great opportunity to acquire a beautiful waterfront property leased by a strong operator”, noted Harrison Laird, Principal at Lee & Associates Commercial Real Estate Services, LLC. “Ruston Way continues to flourish and Duke’s has long been a staple of the area.”
This acquisition comes less than a year after the Puyallup Tribe of Indians purchased a nearby site on Ruston Way which, at over two acres, was home to the former C.I. Shenanigans and Ram Restaurant & Brewery. Their planned revitalization of the former C.I. Shenanigans as well as the flourishing Point Ruston project are both poised to continue increasing the appeal of Ruston Way.
The Lee & Associates team of Harrison Laird and John Bauder facilitated the transaction.
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Lee & Associates is a commercial real estate brokerage, management and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment and appraisal to meet the specialized needs of our clients.