Kimco Realty Buys 86,909 SF Canyon Ridge Plaza in Kent, Washington

Kimco Realty has purchased Canyon Ridge Plaza, a multi-tenant retail property in Kent, Washington, from an undisclosed seller for $19 million. Northmarq brokers Sean Tufts, Kevin Adatto, Joe Dugoni and Jack Hallberg handled the transaction.

The center sits at 26015 104th Avenue and comprises 86,909 square feet of retail space that is 94 percent occupied. Current tenants include Ross Dress for Less, Old Navy, Petco, Bath & Body Works and Verizon Wireless. The article says six tenants have signed new or extended long-term leases since January 2025, including a 10-year renewal from Ross. Target, Burlington and TJ Maxx are listed as shadow tenants.

For developers and lenders, the deal shows continued institutional demand for grocery-adjacent and value-oriented strip centers in the Seattle-area suburbs. Stable occupancy and recent lease renewals support the asset's income profile, making it a useful comparable for retail valuations in the submarket.