Broadway Market has a new owner. Regency Centers, a real estate development company with a focus on "grocery-anchored shopping centers" has snapped up the 110K square-foot property, as well as 30 residential units and the underground parking garage, for $43M. Despite the fact that competition will heat up when Whole Foods comes to town by 2018, Regency sees the growing population of Seattle, as well as the upcoming Amazon HQ nearby, as a reason to invest here. Broadway Market's plaza is currently home to QFC, Gold's Gym and various other small businesses. Former owner Madison Marquette paid $15M for the property in 1999.
· Regency Centers Closes on an Entire City Block of Mixed-Use Property in Seattle, Washington [BW]
· Grocery-focused real estate investment company pays $43 million for 'an Entire City Block' of Capitol Hill [CHS]