Phillips Edison Acquires Renton Highlands Shopping Center for $15.75M

Phillips Edison has acquired the Renton Highlands Shopping Center, a 54,000-square-foot retail complex in Renton, Washington, for $15.75 million, according to an announcement published April 16, 2026, by Kidder Mathews via The Registry PNW. The sale price equates to approximately $292 per square foot, below the property's most recent assessed value of $16.8 million per county records.

Transaction Details

The Renton Highlands Shopping Center sits on a five-acre lot adjacent to a Safeway grocery store in the Renton Highlands submarket of Washington state. No cap rate, loan terms, occupancy figures, or seller identity were disclosed in connection with the transaction.

The sale price of $15.75 million represents a discount to the property's county-assessed value of $16.8 million, a gap of approximately $1.05 million.

Buyer Profile: Phillips Edison

Phillips Edison is a real estate investment trust focused on grocery-anchored neighborhood and community shopping centers. No additional details regarding Phillips Edison's financing structure or strategic rationale were included in the announcement.

Transaction Summary

The announcement of the Renton Highlands Shopping Center transaction was published on April 16, 2026. Key deal metrics include a total purchase price of $15.75 million, a building size of 54,000 square feet, a five-acre site footprint, and a price per square foot of approximately $292. No seller was identified in the announcement.