Out-of-state investor buys former Walgreens on Sixth Ave. Here’s what we know
AI-generated summary reviewed by our newsroom.
- An entity tied to Texas-based investor paid $3.5M for former Tacoma Walgreens site.
- Buyer plans to “re-tenant” Sixth Avenue retail space with a new retail user.
- Sale marks entity’s first acquisition in Washington state.
A former Tacoma Walgreens property has sold to an entity affiliated with a Houston-based investor.
The site, 2024 Sixth Ave., near the intersection of Sixth and South Sprague Avenue, was previously home to a Walgreens drugstore, which closed in 2023 as part of store reductions nationwide by the chain.
In 2024, the company cited an “oversaturated footprint in the area.”
According to a sales filing recorded April 1 with Pierce County, the site sold for $3.5 million to Tacoma Brothers LP, an entity affiliated with Alexander Ron, cofounder and managing partner of Scarlet Capital of Houston.
Ron, in response to questions from The News Tribune, said via email that the transaction “marks our first acquisition in the Seattle area/Washington state.”
He added, “We hope to re-tenant the space with a great retail user.”
The sellers were real estate investor LLCs that listed a California address. The purchase included 2024 and 2034 Sixth Ave.
Scarlet Capital has made news for adaptive reuse projects in Houston. Realty News Report has described the firm in recent coverage as a “boutique Houston-based real estate company, which revitalizes and repositions urban real estate.”
The firm’s website shows a Walgreens site in Houston among its portfolio properties.
This is the second announcement in recent days of changes coming to the Sixth Avenue retail corridor. On Friday, The News Tribune reported that Portland-based Voodoo Doughnut was set to open its first South Sound location at 2702 Sixth Ave.
This story was originally published April 3, 2026 at 5:00 AM.
