Lightstone has acquired The Outlet Collection Seattle from Washington Prime Group for $82 million.

Located in the greater Seattle metropolitan area, the Seattle Outlet Collection is an enclosed outlet center that spans 920,000 square feet. Lightstone has engaged seasoned industry professionals Nicholas King, formerly COO of Prime and Paragon Outlets, Michele Dawson and Scott Ferguson of FFO Real Estate Advisors to handle outlet tenant leasing, and Spinoso Real Estate Group to handle leasing. 

Upon acquisition by Lightstone, the firm plans to invest over $10 million in capital improvements and tenancy upgrades across the enclosed mall. “We see tremendous opportunity in this investment, and are looking forward to tapping into its full potential,” said David Lichtenstein, Chairman and CEO of Lightstone.

Currently operating at 98% occupancy, a selection of the mall’s tenants include Nordstrom Rack, Burlington, Best Buy, Dave & Busters, Polo Ralph Lauren, Kate Spade, Ulta, Coach, Nike, Adidas, and Michael Kors.