Alturas Completes Retail Building in Puyallup, WA

Published by Travis Barney at April 30 , 2018

Tags Transactions, Development

12005 Meridian, Puyallup WA 

Construction is now complete on an Alturas Capital Partners project located in Puyallup, Washington. Over half of the new, 7,400 square-foot, multi-tenant building space will be home to a CityMD urgent care facility. The Puyallup location will join five other CityMD facilities, operated in partnership with CHI Franciscan Health, currently open throughout the Puget Sound region. The remaining retail space is available for lease.

12005 MeridianThe building is located at 12005 Meridian E. in Puyallup’s South Hill submarket, a high-visibility, primary retail corridor.

Recognizing the potential of the high-traffic area, Alturas acquired the property in April 2017, bought out the existing tenants, and redeveloped the lot, replacing an old, dilapidated structure with a new, contemporary retail building better suited for the area.

“We chose this location for several reasons, the primary one being we know our tenant clients can be highly successful here. The submarket is very strong, and the businesses located in the immediate vicinity are doing well and growing,” said Travis Barney, president at Alturas Capital Partners. “The location lends itself to a wide array of uses, from medical such as CityMD, to food and retail operators.”

Presently, 3,400 square feet is still available for lease, divisible down to 1,400-square-feet. CityMD is expected to open for business this summer.

For leasing information, contact Aaron Bennett of JSH Properties at (206) 859-4500, email aaronb@jshproperties.com, or visit www.jshproperties.com.

Alturas is a Boise, Idaho based commercial real estate investment company. The company actively invests in office, industrial and retail properties, with a focus on the Pacific Northwest and Intermountain West. Alturas manages several properties in Idaho, Utah, Washington, and Arizona. Since 2009, the firm has made investments valued at over $250 million and is actively seeking to acquire additional assets.

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