Washington retail sale tops $32M

Regional mall sells to California investor

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A large shopping mall in central Washington state recently sold to a limited liability company for a price of $32.5 million. Los Angeles-based Vintage Capital Group LLC purchased Wenatchee Valley Mall from Irvine, Calif.-based PASSCO. Located in the city of East Wenatchee at 511 Valley Mall Parkway, the 339,725-square-foot mall is anchored by Macy's (who is on a ground lease), Sears, Bed Bath & Beyond and Ross Dress for Less. The property was constructed in several phases: 1972, 1978, 2000 and 2003. Wenatchee Valley Mall was 92 percent occupied at the close of escrow and is situated on 28 acres. In addition to its anchor tenants, the asset also houses retailers such as Bath & Body Works, Wells Fargo Bank, Pac Sun, GNC, Foot Locker and Kay Jewelers. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com. ...