Pacific Commons Redevelopment Opportunity

Overview

Marcus & Millichap has been selected to exclusively market for sale the fee simple interest in Pacific Commons, 206,474-squarefoot community center in Spanaway, Washington, positioned at the southeast corner of Pacific Avenue and 176th. Boasting a daily traffic flow exceeding 63,000 vehicles, this prime property offers exceptional visibility and commercial potential. With 91.62% vacancy, the center presents a dynamic repositioning opportunity, particularly with its Urban Corridor zoning, allowing for diverse uses such as multifamily, retail, and restaurant pad sites. Situated strategically along the I-5 freeway corridor, Pacific Commons serves as a crucial connector between southern Tacoma cities, establishing itself as an ideal commercial hub in the area.

Investment Highlights

The Evergreen State

SPANAWAY, Washington, situated approximately an hour south of Seattle and 25 minutes south of Tacoma, is a vital part of the Seattle-Tacoma metro area. Spanaway lies within Pierce County, which is renowned for its significant population growth over the past decade, attributed to its comparatively lower land and housing costs compared to the major cities of Seattle and Tacoma. As an integral part of this thriving metro area, Spanaway benefits from the economic diversity fostered by a highly skilled and educated workforce, advanced transportation and distribution infrastructure, and access to national and global markets. The region is particularly esteemed for its leadership in industries such as aerospace, e-commerce, cloud storage, and computer software, boasting prominent employers like Microsoft, Boeing, and Amazon.