Q2 2012 Seattle, Washington Retail Property Sales Analysis

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Q2 2012 Seattle, Washington Retail Property Sales Analysis


The $323.2 million exchanged in 21 transactions in the first half of 2012 puts the market on track to exceed the dollar volume accumulated all told in 2011. The total for second quarter 2012 alone for nine completed sales was $123.9 million. The average selling price and mean cap rate for the quarter were $242 psf and 9.0%. The 12-month rolling cap rate per quarter-end was 7.9%, up from 6.8% four quarters prior. In the quarter’s largest sale, second-largest in a year, Donahue Schriber paid Kite Realty Group Trust $41 million ($339 psf) for the 120,822-square-foot Four Corners Square neighborhood center in Maple Valley. The deal closed in May at a 6.9% cap rate.