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March 10, 2014

Market Trend: Select Top Five Seattle / Puget Sound Retail Leases Signed in Q4 2013

CoStar Group

Justin Sumner

The select top retail lease signed during the fourth quarter of 2013 in the Seattle/Puget Sound market was at the North Seattle Hobby Lobby Center in the Northgate / N Seattle submarket.

Hobby Lobby leased 57,805 square feet there, represented by First American Properties. Kidder Mathews represented the landlord.

Saars Marketplace leased 39,309 square feet at Tukwila Market in the Renton / Tukwila submarket. West Coast Commercial Realty represented the landlord.

Big Lots signed a 29,353-square-foot lease at 5401 100th St. SW in the University Place / Lakewood submarket. Kamin Realty Co. represented the landlord.

The Container Store leased 24,000 square feet at Westfield Southcenter Shopping Town Phase I in the Renton / Tukwila submarket. Simon Property Group, Inc. represented the landlord.

Franciscan Health System leased 20,000 square feet at Auburn Marketplace in the Federal Way / Auburn submarket. First Western Properties represented the landlord.

This trend is compared to the U.S. National Retail select largest new lease signings occurring in Q4 2013, which include the 230,000-square-foot deal by Wal-Mart in the Hampton Roads market; the 151,128-square-foot lease by Mariano's Fresh Market in the Chicago market; the 78,962-square-foot lease by Food 4 Less in the Los Angeles Market; and BJ's Wholesale Club signing a 240,448-square-foot lease during the third quarter in the Boston market.

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