Eastside Tacoma shopping center sells for millions. Is a trampoline park in its future?
A Tacoma shopping center originally built as the home of Kmart has been sold by its longtime owner.
Tahoma Vista Shopping Center, near East 72nd Street and Portland Avenue, sold for $14.2 million in a sale recorded June 26 in county records.
Franklin Acquisition LLC, affiliated with PMF Investments of Bellevue, acquired the site in 1990, and sold the center to Tahoma Vista Venture LLC affiliated with Rhino Investments of Henderson, Nevada.
The sale involved a collection of parcels, including the main center as well as the property sites of Taco Bell and O’Reilly Auto Parts.
The shopping center was first developed in 1968 with anchor tenant Kmart. The owners scrambled to keep the center thriving upon that retailer’s departure in 2017.
After a multimillion-dollar makeover, the center’s owner announced Big Lots would expand with a bigger store to take over part of the former Kmart space, and then new tenant Grocery Outlet would move into the former Big Lots space, where they remain today.
The remainder of the Kmart space has been leased to Urban Air Adventure Park for an indoor entertainment center, according to the PMF Investment site profile.
Urban Air’s website for the indoor trampoline business says the Tacoma site is “coming soon,” and a customer service representative for the company told The News Tribune there is no opening date yet.
PMF Investments also owns Puyallup’s Pioneer Crossing Shopping Center, which launched with Safeway and Starbucks in late 2019.
