Grocery-Anchored Shopping
For Sale
Contact for pricing
Pending
3414 132nd St SE, Mill Creek, WA 98012
Established retail center with Safeway, multiple long-standing tenants, and two ground-leased pad sites.
Property SizeContact for details
Days on Market140
Property Features for 3414 132nd St SE
General Information
Standard status
Pending
Property subtype
Retail
Occupancy
98%
Additional Details
Anchor Co-Tenants
Safeway
Building Details
Tenancy
Multi
Listing Agency:
CBRE - Seattle
Listed By:
Dino Christophilis · License #WA 24717
Source:
Crexi
Added: Apr 13
Changed: Aug 30
Last Checked: Aug 30 at 1:16AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Seattle
Investment Insights
Based on property information with market context.
Thomas Lake Center is a grocery-anchored shopping center with Safeway occupying the former Albertsons space under the same lease following its 2022 conversion. The tenant roster also includes O’Reilly Auto Parts, McDonald’s, Shell, 7C’s Swim School, and Salons by JC. Two pad sites are ground leased, while a former Rite Aid box was back-filled by the two newer tenants.
The property is 98% occupied with one shop vacancy, and the rent roll carries a 6.8-year WALT after recent renewals and new leasing. Grocery sales increased 30%+ following the Safeway conversion. Thomas Lake Center is at 3414 132nd St SE in Mill Creek, 15 miles north of Seattle, near an area with 1,150+ recently developed housing units. The city has also annexed several acres immediately east of the center.
The property is 98% occupied with one shop vacancy, and the rent roll carries a 6.8-year WALT after recent renewals and new leasing. Grocery sales increased 30%+ following the Safeway conversion. Thomas Lake Center is at 3414 132nd St SE in Mill Creek, 15 miles north of Seattle, near an area with 1,150+ recently developed housing units. The city has also annexed several acres immediately east of the center.
Key Highlights
- 98% occupied with one shop vacancy
- 6.8‑year WALT following recent renewals and new leases
- Safeway conversion completed in 2022 under the existing lease
Property Analytics
Property Profile
Current Use
Lease Details
98%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
212
Businesses Nearby
134k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Dining 28%
Groceries 25%
Safeway
Groceries
33,207 visits/mo
0.0 miles
McDonald's
Dining
32,181 visits/mo
0.1 miles
Dollar Tree
Shops & Services
22,702 visits/mo
0.1 miles
Shell
Shops & Services
11,776 visits/mo
0.1 miles
Chevron
Shops & Services
11,102 visits/mo
0.3 miles
Demographics for 98012, WA
74,956
Population
28,174
Households
2.7
Avg Household Size
36
Median Age
56%
College-Educated
96%
High-School Grad
15.7 sq mi
ZIP Area
4,774
Density / Sq Mi
$141,653
Median Household Income
$72,412
Median Earnings
$2,279
Median Rent
$811,500
Median Home Value
Market
Vacancy Rate% for Retail in West region
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Similar Off Market Nearby
- Thomas Lake Shopping Center — 3202-3432 132nd St SE, Mill Creek, WA 98012
- Coinstar Kiosk | Bitcoin ATM — 3322 132nd St SE Albertsons, Mill Creek, WA 98012
- The Shops at the Farm — 13218 39th Ave SE, Mill Creek, WA 98012
Frequently Asked Questions
What type of property is this?
Shopping center - Established retail center with Safeway, multiple long-standing tenants, and two ground-leased pad sites.
Where is this shopping center located?
The property is located at 3414 132nd St SE Mill Creek, WA.
What are key features of this property?
This property features: 98% occupied with one shop vacancy; 6.8‑year WALT following recent renewals and new leases; Safeway conversion completed in 2022 under the existing lease
