Premier Safeway-anchored shopping center trades for $35.4M in Seattle

ORANGE COUNTY, Calif., Jun. 26, 2025 – JLL Capital Markets announced today that it has arranged the $35.4 million sale of Admiral Junction, a rare infill Seattle grocery-anchored retail center located in West Seattle's affluent Admiral submarket.

JLL worked on behalf of the buyer, Silver Star Ventures.

Admiral Junction is strategically positioned at 2620 California Ave. SW at the intersection of Admiral Wy. and California Ave., West Seattle's primary commercial arterial. This prime location offers excellent visibility in one of Seattle's most desirable neighborhoods, known for its convenient access to downtown employment centers, stunning water views and neighborhood charm.

The 67,992-square-foot retail center is 100% leased and includes a 60,876-square-foot Safeway store and a 7,116-square-foot retail shoppes building. The property features a strong tenant mix with Safeway representing 82% of the property. The Safeway store reports impressive sales ranking as the #1 grocer in West Seattle based on foot traffic.

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

"Admiral Junction represented a rare opportunity to acquire an infill core grocery-anchored asset in West Seattle with a strong performing grocer,” said Tyner. "The property's exceptional location, strong demographics and stability made it an attractive opportunity for the buyer."

"We are grateful to be a part of Silver Star Ventures’ first retail acquisition," added Koucos. "With high barriers to entry and limited development opportunity in West Seattle, Admiral Junction presents a great opportunity for Silver Star in the years to come."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Silver Star Ventures was created in 2024 to implement the Zilis family real estate investment strategy. The business plan centers on the acquisition of core assets in the grocer-anchored shopping center and multifamily sectors. Ancillary investments include land acquisition and speculative single-family development. The entity is 100% self-funded by the Zilis family.