First Major Multi-Tenant Commercial Development Announced for Tehaleh

PRESS RELEASE

BONNEY LAKE, WA - Tehaleh by Newland and Visconsi Companies announce that Visconsi has closed on the purchase of a key commercial site in the 4,700 acre master-planned community of Tehaleh near Bonney Lake. This closing marks the milestone of the planned community’s first major multi-tenant commercial project.

The 9-acre development, named Canyon View Village Center, will be located on two parcels on either side of Canyon View Boulevard north of Cascadia Boulevard East. Anchor tenants 7-Eleven and Wendy’s will be joined by an anticipated coffee shop, full-service restaurants, dental office, daycare and other retail and services. Center tenants will adhere to Tehaleh’s architectural standards, with 7-Eleven unveiling a first-of-its-kind design for this location.

“Visconsi Companies is committed to bring much needed services, conveniently located within Tehaleh,” said Scott Jones, senior vice president of operations at Brookfield Properties. “They know how to create successful commercial centers that serve their communities and fit local aesthetics.”

“We are excited to add to the quality of life in Tehaleh with the opening of Canyon View Village Center,” shared Brad Goldberg, Executive Vice President of Development for Visconsi Companies. “Tehaleh is so walkable. Soon residents will be able to walk and grab a quart of milk or stop for a Frosty after going to the park on a hot day.”

Construction of Canyon View Village Center is scheduled to begin mid-May with the first tenant opening for business early spring 2023.

Neighborhood retail, eateries and a community gathering place have been part of Tehaleh’s long-term plan as the local population has grown. Jones said he also hopes to soon make another announcement about a brand new community gathering place.

Rendering of new 7-11 design for Canyon View Village Center.

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About Tehaleh by Newland: Tehaleh is a 4,700-acre planned community located near Bonney Lake, WA. The community is currently home to 8,700 people, two elementary schools, 14 parks, 30+ miles of trails and 1,800 acres dedicated to open space.

Tehaleh by Newland is owned in a joint venture partnership between North America Sekisui House, LLC (NASH) and Brookfield Residential, and is proudly managed by Brookfield Properties. These partners share a deep commitment to sustainable development practices and apply these core values to the vision, planning, and development of their communities. Tehaleh by Newland is one of more than 20 communities this partnership manages together across the US. For more information, visit Tehaleh.com

About Visconsi Companies: Visconsi Companies, Ltd., is a fourth generation, family-owned developer and manager of retail and other commercial properties. Based in Cleveland, Ohio, the company’s activities span coast-to-coast including a portfolio of long-held and recently completed properties; several additional in-progress and planned developments; plus prime land holdings. The company continues to expand into new markets, developing innovative shopping centers, single tenant net lease programs, healthcare facilities and other real estate ventures. Additional projects in the Seattle area include Wintergreen Walk on Bainbridge Island, Station Square in Mount Vernon, and the Costco-anchored Mountain View Marketplace in Bonney Lake.