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Canyon Ridge Plaza 26015-26301 104th Ave SE 86,909 SF 94% Leased Retail Building Kent, WA 98030 $29,404,210 CAD ($338.33 CAD/SF) 7.25% Cap Rate
Executive Summary
Ross Anchor Stabilized With a 10-Year Renewal: Ross Dress for Less (27,200 sq. ft., 31.3% of GLA) operated under a co-tenancy violation following Top Foods’ vacancy, paying substitute rent of 2% of gross sales. In February 2026, Ross executed a 10-year renewal at $15.50/SF with a 10% bump in Year 5, fixed CAM of $5.49/SF with 3% annual increases, and the co-tenancy condition removed. Base rent increases $155,600 annually, a 59% lift over the substitute rent rate.
Established Retail Node Within the Seattle-Tacoma-Bellevue MSA: Canyon Ridge Plaza has direct access to SR-515, SR-167, SR-516 and I-5. The 5-mile trade area encompasses 258,304 residents with an average household income of $128,688. Retail submarket vacancy stands at 4.5%. Primary employers in the trade area include Boeing, Amazon and the Port of Seattle. Adjacent Off-Price Cluster Adds Traffic Support: Harbor Freight, Burlington, and TJ Maxx have all opened in the former Top Foods space, joining Ross, Petco, and Old Navy to form a strong value retail corridor.
Numerous Recent Long-Term Commitments: In the past 18 months, five separate tenants have committed to new or extended long-term leases at Canyon Ridge:
• Ross (new 10-year lease at $15.50/SF)
• Skechers (new 10-year lease at $24/SF)
• Verizon Wireless (new 5-year lease at $24.32/SF)
• Petco (5-year extension)
• Domino’s Pizza (10-year renewal)
• Comcast/Xfinity (option exercise).
Two Pad Buildings With SR-515 Frontage Included in the Offering: The sale includes two pad buildings fronting SR-515, providing additional income potential and visibility along the primary corridor.
Two Vacant Inline Suites Offer Near-Term Upside: Two suites totaling 5,206 sq. ft. (6% of GLA) are currently vacant. Underwriting projects absorption by June 2027 at market rates, adding approximately $125,000 in annual NOI at stabilization.
Property Facts
Amenities
- Property Manager on Site
- Restaurant
- Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
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- Retailer
- -
- -
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Lorem Ipsum
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Jan 0000
Petco began in 1965 as a mail-order veterinary supply company in California. The first retail store opened in 1976, expanding the business model. Today the company operates numerous locations nationwide selling pet food, supplies, and live animals. Additional services include grooming, training, and veterinary care through in-store clinics and mobile units. Petco also offers digital resources like telehealth and subscription services for preventative pet care.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
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Retailer | - | - | Lorem Ipsum | Jan 0000 |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
This 2,508 square foot retail space at Canyon Ridge Plaza is available for lease. Major tenants include Old Navy and Ross Dress for Less plus other small shops. Canyon Ridge Plaza has ample parking with 1,322 spaces and is located at 104th Ave. SE & SE 260th St. in Kent, Washington.
This 2,698 square foot retail space at Canyon Ridge Plaza is available for lease. Major tenants include Old Navy and Ross Dress for Less plus other small shops. Canyon Ridge Plaza has ample parking with 1,322 spaces and is located at 104th Ave. SE & SE 260th St. in Kent, Washington.
| Space | Size | Space Use | Position | Available |
| 1 | 2,508 SF | Retail | In-Line | Now |
| 8 | 2,698 SF | Retail | In-Line | Now |
1
| Size |
| 2,508 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
8
| Size |
| 2,698 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
1
| Size | 2,508 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
This 2,508 square foot retail space at Canyon Ridge Plaza is available for lease. Major tenants include Old Navy and Ross Dress for Less plus other small shops. Canyon Ridge Plaza has ample parking with 1,322 spaces and is located at 104th Ave. SE & SE 260th St. in Kent, Washington.
8
| Size | 2,698 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
This 2,698 square foot retail space at Canyon Ridge Plaza is available for lease. Major tenants include Old Navy and Ross Dress for Less plus other small shops. Canyon Ridge Plaza has ample parking with 1,322 spaces and is located at 104th Ave. SE & SE 260th St. in Kent, Washington.
Nearby Major Retailers
Property Taxes
| Parcel Number | 292205-9017 | Improvements Assessment | $17,889,423 CAD |
| Land Assessment | $7,091,588 CAD | Total Assessment | $24,981,011 CAD |
Property Taxes
Presented by
Canyon Ridge Plaza | 26015-26301 104th Ave SE
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