Alturas Real Estate Fund Sells 7,400 SF Retail Center in Puyallup, WA
Written by Travis Barney | December 17, 2018
PUYALLUP, WA - December 17, 2018 - The Alturas Real Estate Fund has completed the sale of 12005 Meridian E. in Puyallup, WA. to an owner/user: Pacific Dental.
Alturas originally purchased the property in April of 2017 and redeveloped the lot, replacing an old dilapidated structure with a new, contemporary retail building. The new building opened in the summer of 2018 with CityMD as a tenant for slightly over half of the space. Pacific Dental will be moving into the vacant space adjacent to CityMD.
This deal provided a great example of our unique process for working with brokers as Aaron Bennett of JSH Properties was able to participate in the deal in four ways: he identified the deal and represented us on the purchase, helped find a tenant, joined as an investing partner, and then represented us again at disposition of the property.
Alturas Capital Partners is a Boise, Idaho based commercial real estate investment company and manager of the Alturas Real Estate Fund. The company actively invests in office, industrial, retail, and multi-family properties with a focus on the Pacific Northwest and Intermountain West. Alturas owns properties in Idaho, Washington, Colorado, Utah and Arizona. Since 2009, the firm has made investments valued at over $250 million and is actively seeking to acquire additional assets in the Western United States.