Premier grocery-anchored center trades in Seattle metro

ORANGE COUNTY, July 23, 2026 –  JLL Capital Markets announced today that it has facilitated the sale of Lakeland Town Center, a dominant neighborhood shopping center serving the affluent Lake Tapps and Lakeland Hills communities in Auburn, Washington.

JLL represented the seller, EDENS. The buyer was Intercontinental.

Lakeland Town Center is strategically positioned at 1406 Lake Tapps Parkway E, serving as the dominant retail center for the master-planned Lakeland Hills community and drawing from the popular Lake Tapps area, which attracts more than 2.3 million annual visitors.

The 125,233-square-foot retail center is 100% leased and anchored by a 67,200-square-foot Haggen Northwest Fresh store, wholly owned by Safeway. The property features a synergistic mix of national and regional tenants, including McDonald's, Wells Fargo, UPS Store, Orangetheory Fitness, Club Pilates and Great Clips, all centered around daily needs, food and beverage and service. Built in 2002 and recently renovated the center benefits from exceptional demographic strength with average household incomes exceeding $173,000 within one mile.

The property ranks within the top neighborhood centers in the Seattle MSA based on traffic and performance metrics. More than 60% of the currently leased space has been occupied by the same tenants for over a decade, demonstrating exceptional stability and demand within the affluent trade area.

JLL Capital Market’s Sales and Advisory team was led by Senior Managing Directors Geoff Tranchina and Gleb Lvovich and Managing Director Daniel Tyner. 

"Lakeland Town Center attracted exceptional buyer interest as a core retail asset with institutional-quality fundamentals,” said Lvovich. “This marks Intercontinental's first retail acquisition in the Seattle MSA, underscoring both the strength of this irreplaceable property and JLL's ability to introduce new retail capital to key West Coast markets. The transaction is a clear signal of sustained demand for well-positioned, grocery-anchored centers in high-growth submarkets.”

“The property represented exactly what investors are targeting in retail and offered a dominant, 100% leased grocery-anchored center with proven long-term tenancy in an irreplaceable Pacific Northwest location," said Tyner. “The depth and competitive sale process is a clear reflection of where core capital is focused on heading into the second half of 2026.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Founded in 1966, EDENS’ purpose is to enrich community through human engagement. The company owns, develops and stewards a leading real estate portfolio of more than 100 open-air retail and mixed-use places in high-growth markets nationwide. EDENS creates destinations where people feel welcome and emotionally connected through intentional design, thoughtful curation and meaningful experiences. Together, these places reach an estimated 15 million people daily. For additional information about the company and its commercial real estate portfolio, visit www.edens.com and follow @WeAreEDENS.

Intercontinental Real Estate Corporation is an SEC Registered Investment Adviser* with decades long experience in real estate investment, finance, development, construction management and asset management. Since 1959, Intercontinental and its affiliates have managed, developed, or owned collectively over $18.62 billion in real estate property. As of June 30, 2026, Intercontinental manages a real estate portfolio of approximately $12.25 billion for its clients. Intercontinental investment strategies actively seek opportunities to invest in both Core and Core-Plus properties, as well as in Value-Add operating properties and development projects. For more information on Intercontinental please visit www.Intercontinental.net.

*Registration with the SEC does not imply a certain level of skill or training.