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Mercer Island store sold for $8.6M

MERCER ISLAND — The New Seasons grocery store property at 2755 77th Ave. S.E. has sold for $8.6 million, according to King County, which recorded the sale in late October.

The sellers were Fab Five LLC and a family trust, which had owned the property for several decades.

The buyer was Graham RE1 LLC, which is associated with Mercer Island investor Justin Graham.

The store was developed in 1977 on 2.7 acres, and has about 37,000 square feet, plus a large parking lot. It was remodeled last year, after New Seasons acquired the ground lease and store—but not the land—from Albertsons. It was during that same period in 2015 when Albertsons and Safeway merged, and Haggen took over several locations from the combined grocery chain.

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