Property Type Retail
Financing Type Permanent
Date December 14, 2020
Situated along SR-16 and near the confluence of several neighborhoods, the location allows for a larger draw than any of the competing neighborhood centers in the area.
Tacoma, WA (December 14, 2020) – Gantry, the largest independent commercial mortgage banking firm in the U.S., secured a $7,000,000 loan for 6th Avenue Plaza, a retail center in Tacoma, WA. The nearly 140,000-square-foot asset is located at 5401 6th Avenue.
Gantry’s Brian Bonipart and Joyce Chen arranged the 10-year permanent financing through Genworth.
The 1986-built property is situated on a 11.6-acre site in the West End neighborhood, directly off SR-16, near Tacoma Community College and five miles from the Tacoma CBD. The 94%-leased center is occupied by such tenants as American Freight, Harbor Freight Tools, Goodwill, Aaron’s Rent, Artco, Curves, I Love Kick-boxing, Smiles 4 Kids and Mattress Ranch.
The subject, 6th Avenue Plaza, is a retail center anchored by Harbor Freight, Goodwill, American Freight and Artco. The center was built in phases from 1986 to 1995. It contains six buildings, which are demised into 18 spaces and has a gross leasable area of 139,022 square feet. The subject is part of a retail node flanking 6th Avenue east and west of the freeway. Situated along SR-16 and near the confluence of several neighborhoods, the location allows for a larger draw than any of the competing neighborhood centers in the area.