Harsch Investment Properties purchased SeaTac Village, a 164,369-square-foot shopping center in Federal Way, Wash.

The transaction was valued at $24.5 million.

Located at the intersection of South 320th Street and Pacific Highway South, it is directly across from two Harsch-owned shopping centers – the 126,689-square-foot Pavilion II Centre developed by Harsch in 2003, and the 190,000-square-foot Ross Plaza planned for redevelopment in 2005.

Tenants include Linens ‘N Things, Old Navy, Borders Books, TJ Maxx, Old Country Buffet, Big 5 Sporting Goods, Sterling Savings and the new Rainier Pacific Bank building.

Harsch purchased the property from SeaTac Village LLC.

Steve Daneman of Daneman Realty represented both parties in the transaction.

Portland, Ore.-based Harsch Investment Properties is a privately held real estate company.

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