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Meridian Place 4423-4621 S Meridian Ave 127,429 SF 92% Leased Retail Building Puyallup, WA 98373 For Sale
Investment Highlights
- ~61% of GLA occupied by tenants in place 5+ years.
- Three high-visibility pad buildings, including Starbucks drive-thru, AT&T, and Pure Barre.
- Near South Hill Mall (8M+ annual visits; 960k+ trade area population).
- Diverse tenant mix with staggered expirations through 2041; Heritage Bank extended to 2035
- Prime S Meridian Ave location with 43k+ VPD; less than 1 mile to SR-512 (92k VPD).
- Strong residential growth; major projects like The Club at Uplands underway.
Executive Summary
Northmarq is pleased to present the opportunity to acquire Meridian Place Shopping Center, a 92% leased neighborhood shopping center anchored by a high-performing Grocery Outlet, Michaels, and a brand-new AutoZone Mega Hub store on a 15-year lease with an anticipated fall 2026 opening. The Property is situated along South Meridian in the dominant retail corridor of Puyallup’s South Hill submarket, one of the fastest-growing areas of the greater Puget Sound, and just blocks from South Hill Mall, a 1.1M-square-foot regional destination drawing 8M+ annual visits (Placer. ai). The Property includes three high-visibility retail pad buildings fronting S Meridian, providing long-term optionality in one of Pierce County’s most supply-constrained retail corridors. Continued mark to market leasing opportunities provide for a CAGR of 3.39% over a 10-year hold
Property Facts
Amenities
- Bus Line
- Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
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- Health Care and Social Assistance
- -
- -
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Jan 0000
At Indigo Health, they’re designed from the ground up to deliver simpler and better health care. They combine technology, innovation and a refreshingly friendly experience to radically improve how people access the health care they need. Whether patients need urgent care, primary care, or online care, they offer the care their patients need, when and where they need it.
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- Professional, Scientific, and Technical Services
- -
- -
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Jan 0000
PetCare Clinic is a walk-in veterinary clinic serving pets through urgent care, preventive wellness, diagnostics, surgery, dental treatment, and pharmacy services. The clinic has more than two decades of experience, and its care model includes same-day check-in for urgent but non-life-threatening needs, on-site digital radiology, lab testing, ultrasound, and access to medications, preventatives, and prescription diets. PetCare Clinic also provides spay and neuter care, vaccinations, allergy treatment, routine exams, and targeted dental procedures, with a focus on comfort, early detection, and proactive care; the clinic earned AAHA accreditation in 2026 and also supports rescue partners with reduced-cost veterinary services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
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Health Care and Social Assistance | - | - | Jan 0000 | ||
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Professional, Scientific, and Technical Services | - | - | Jan 0000 |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 1st Floor
- 2,247 SF
- Retail
- -
- Now
- 716
- 1,400 SF
- Retail
- -
- Now
- 807
- 5,014 SF
- Retail
- -
- Now
- 823
- 1,400 SF
- Retail
- -
- Now
| Space | Size | Space Use | Position | Available |
| 1st Floor | 2,247 SF | Retail | - | Now |
| 716 | 1,400 SF | Retail | - | Now |
| 807 | 5,014 SF | Retail | - | Now |
| 823 | 1,400 SF | Retail | - | Now |
1st Floor
| Size |
| 2,247 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
716
| Size |
| 1,400 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
807
| Size |
| 5,014 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
823
| Size |
| 1,400 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $15,189,500 | |
| Land Assessment | $8,369,600 | Total Assessment | $23,559,100 |
Property Taxes
