Trader Joe's-anchored South Sound Center in Lacey listed on best-offer basis

Newmark Group has brought the 360,040-square-foot South Sound Center in Lacey, Washington, to market on a best-offer basis, according to marketing materials and regional coverage. The property sits on a 30.84-acre site and is described in listing materials as a "regionally dominant grocery-anchored retail destination" anchored by Trader Joe's with Target identified as a shadow-anchor.

Trader Joe's has posted an "open soon" entry for a Lacey location that local coverage cites at 691 Sleater Kinney Rd SE, and the grocer's announcement reproduced by KEYW reads in full: "We've consulted our maps and compass and have found a terrific location for a store in Lacey, WA. We are proud to be joining the neighborhood, and to continue our commitment to providing nourishment to the surrounding communities through our Neighborhood Shares program. Our Crew is working hard so we can open our doors. We’ll continue to post new details about the store and its opening here, so please check back for updates. We look forward to seeing you!" KEYW also noted Trader Joe's lists 29 locations in Washington on its site and that no grand opening date was provided.

Listing coverage in The Registry identifies the South Sound Center's primary address as 711 Sleater Kinney Road SE and attributes the marketing of the asset to Newmark Group. The Registry's reporting highlights roughly 5 million annual visits to the center and markets the site as offering "significant leasing and redevelopment upside" across the 30.84-acre parcel. The offering format is listed as best-offer, and no asking price or minimum bid level has been published.

A leasing detail appears in a Platform Reverecre excerpt that states, in truncated form, "anchored by Trader Joe's on a new 10-year lease and" — the sentence in the aggregated content breaks off and the lease language has not been corroborated in the available offering materials. Given the two different street addresses in circulation, the marketing materials that pair South Sound Center with 711 Sleater Kinney Road SE and Trader Joe's "open soon" listing at 691 Sleater Kinney Rd SE should be confirmed against Newmark's offering memorandum and Thurston County parcel records before assuming they refer to the identical physical unit.

No sale price, asking bid, or definitive opening date for the Trader Joe's Lacey location has been released in the materials reviewed. The original market summary of the listing observed that the transaction "signals potential real estate activity around Trader Joe's locations," and brokers and local real estate watchers will be looking to Newmark's offering materials and county records to clarify lease terms, parcel boundaries, and the relationship between the grocery tenant and the center as the best-offer process moves forward.