Tukwila, Wash - Portland, Ore. - based MBK Northwest recently sold the main core of the Parkway SuperCenter in Tukwila, Wash., to a division of New York-based KIMCO Realty Corp. for $88.5 million. KIMCO is acquiring 450,000 sq. ft. of the center's total 700,000 sq. ft. Over the past two years, MBK sold the other portions of the Parkway SuperCenter, bringing the total sale value in excess of $120 million.

The SuperCenter includes retailers such as Best Buy, Babies R Us, Cost Plus, Gart Sports and Comp USA.

In 1997, MBK purchased Parkway Plaza and Pavilion Mall, two adjoining retail properties whose outdated, industrial facades and awkward configurations led to the failure of both properties. To create Parkway SuperCenter, MBK completely razed the Pavilion Mall and reconfigured Parkway Plaza. The result is a successful, open-air shopping center.

The sale of the SuperCenter is MBK Northwest's largest sale to date.

MBK Northwest is currently building Phase II of Lakewood Towne Center, a 100-acre, 850,000 sp.-ft. shopping center in Lakewood, Wash. The complex includes retail stores, a neighborhood center, a civic component and a movie theater.