Home Finance Smokey Point Plaza in Arlington, Wash., Sold for $7.165MM

Smokey Point Plaza in Arlington, Wash., Sold for $7.165MM

Smokey Point Plaza, Marcus & Millichap, Arlington, Seattle

ARLINGTON, WA, Sept. 29, 2022 – Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Smokey Point Plaza, a multi-tenant retail property located in Arlington, WA, according to Joel Deis, regional manager of the firm’s Seattle office. The asset sold for $7,165,000. Andrew Scotland, Clayton J. Brown and Ruthanne Loar, investment specialists in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the seller who originally purchased the site in 2019 for $4,880,000.

Smokey Point Plaza is located at 3405 172nd St NE in Arlington, WA, roughly one mile from Amazon’s “Project Roxy”, a new 2.8 million square foot distribution center. This development is anticipated to bring more than a thousand new jobs to the immediate area. In addition, several new multi-family and single-family developments are also in the works surrounding the property. These developments are anticipated to further increase traffic to this retail corridor which already boasts over 58,000 vehicles per day.

About Marcus & Millichap

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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion.