Shopping Center in Lacey Sells for over $44M

Shopping center in Lacey sells for over $44M

South Sound Center, at 711 Sleater Kinney Road S.E., recently sold for $44.1 million, according to Newmark, which represented seller Capital Development Co., the original developer.

Lacey Retail Center Sells for $44M

The center is currently anchored by Trader Joe’s, which opened in November 2025 and signed a 10-year lease.

Tourmaline Capital Acquires 384,000 SQFT South Sound Center in Lacey for $44.1MM

Tourmaline Capital paid $44.1 million for the Trader Joe’s-anchored Lacey shopping center, ending Capital Development Company’s roughly 60-year ownership and betting that Puget Sound’s tightest retail submarkets still have room to absorb an 81 percent-leased property.A Lacey shopping center that has stayed in the same family’s hands since Lyndon Johnson was president has finally changed ownership, closing out roughly six decades of local steward…