According to a report by the Puget Sound Business Journal, Schnitzer West LLC, the owner of The Bravern, has a buyer lined up to purchase the retail portion of the complex. Schnitzer West put the property for sale in November of last year.
The buyer has not been revealed, but according to the report the transaction is expected to close by the end of March. Dan Ivanoff, the founder and managing investment partner, said this of the expected buyer, “This is a best-in-class, luxury-type retail buyer, and very entrepreneurial.”
Other interesting notes from the article:
- There are spaces for about 9 additional retail tenants
- According to Ivanoff, sales at the Bravern’s luxury shops were up 50% last year over 2010. Overall shop sales were up 15 % for 2011.
- One of the empty retail locations at The Bravern may be claimed this summer by a Europe-based luxury retailer within the jewelry category.
