Fairwood Shopping Center Sold for $77.5 Million

King County Records show the Fairwood Shopping Center recently sold for $77.5 million.  The sale of the center transfers ownership from TRC Fairwood Shopping Center, LLC to GRI Fairwood, LCC.

The Seattle Daily Journal of Commerce reported that TRC Fairwood Shopping Center, LLC, previously known as Terramar Retail Centers, purchased the property in 2000 for $23.8 million.

GRI Fairwood, LLC, is reported to be linked to Global Retail Investors, a venture to First Washington Realty of Bethesda, Maryland, and the California Public Employees Retirement System.

The largest and most active of the three centers in the Fairwood area includes major tenants Safeway, L.A. Fitness, and ACE Hardware.