Kidder Mathews has arranged the sale of The Shops at Burlington in Burlington, WA for $9.5 million to local investor Burlington Investment Properties LLC. The one-time primary outlet mall in Washington will likely become a multifamily development after four of the five biggest tenants vacated The Shops.
Kidder’s Mike King, Ryan Haddock and Erik Swanson represented the seller for the property which is located directly along Interstate 5 at 448 Fashion Way with zoning that allows for large scale development.
“It was clear this property needed a new plan,” said King in a news release, “The majority of the interest was from multifamily developers with mixed-use plans. We had numerous competitive offers and closed with an all-cash buyer on a short timeline. I’m looking forward to seeing what the new owner comes up with to revitalize the property.”
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