SerpApi.Org
The grocery-store portion of a shopping center in East Pierce County has sold 10 years after its previous sale.
Summit Country Center, 11012 Canyon Road E., includes multiple parcels, one of which sold this month to a San Diego-based family trust for $9.5 million.
The parcel contains the section that includes Albertsons grocery and a large portion of the shopping center’s parking lot. The site is just off State Route 512 near the intersection of Canyon Road East and 112th Street East.
The seller was Ardell Investment Co. of Pasadena, California. The parcel last sold for $8.9 million in 2016, county records show, and has a total assessed value of $9.37 million.
County records show that Albertsons owned the store property at one time, eventually selling it to an LLC affiliated with New York-based Garrison Investment Group in 2015 for $5.8 million, which sold it the next year to Ardell Investment.
The most recent transaction was the second grocery-anchored shopping center property sold in Pierce County in recent days. Lakeland Town Center, 1404-1416 Lake Tapps Parkway SE in the Lake Tapps area, sold for $69.5 million in a transaction recorded July 9. That site is anchored by Haggen Northwest Fresh grocery.
Previous reporting from The News Tribune contributed to this report.
