First Washington Realty (FWR) has acquired Evergreen Village, a 123,562-square-foot premier grocery-anchored community shopping center in Bellevue, Washington, expanding FWR’s existing Pacific Northwest portfolio to ~2.3 million square feet. Anchored by a Safeway supermarket, Evergreen Village features a diverse mix of fitness and dining tenants, including Edgeworks Climbing, Puetz Golf Superstore, and Starbucks, creating a vibrant hub that draws consistent traffic from across the area.
Positioned in one of the Pacific Northwest’s most established and accessible retail corridors, in the heart of Bellevue’s high-growth Eastside, the center serves a dense, affluent, and highly educated population within a rapidly expanding submarket. Just a short commute from major employers like Microsoft, Amazon, Meta, and T-Mobile, Evergreen Village sits amid a thriving concentration of technology and biotech businesses.
Sarah Ellis, Managing Director, Investments for FWR, said, “Evergreen Village is exactly the kind of property we look for. It’s a grocery-anchored center in a well-established neighborhood, and Safeway has been serving the Bellevue community for over 50 years. That kind of staying power says a lot. We’re excited about what we can do here, in terms of both near-term leasing and the long-term strength of the market.”
About First Washington Realty
First Washington Realty (“FWR”) is a vertically integrated, institutional real estate investment firm focused on high quality grocery-anchored and necessity-based shopping centers. As an owner-operator, FWR leverages its discerning perspectives, deep operational expertise, and rigorous underwriting processes to execute investments in neighborhoods underpinned by strong demographics and high barriers to entry. With a national portfolio of 138 open-air properties totaling more than 21.5 million square feet across 21 states and Washington, D.C., FWR owns interests in and manages approximately $9 billion of assets. For more information, please visit www.firstwash.com.
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