December 17, 2020
Gantry secured a $7-million loan for 6th Avenue Plaza, a retail center in Tacoma. The nearly 140,000-square-foot asset is located at 5401 6th Ave. 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 property contains six buildings, which are demised into 18 spaces.
Gantry’s Brian Bonipart and Joyce Chen arranged the 10-year permanent financing through Genworth.
The center 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 competing neighborhood centers in the area.
For comments, questions or concerns, please contact Dennis Kaiser