Another casino has traded hands in Lakewood, involving the same buyer and seller of a casino property that sold in the city last year. The 21,624 square foot Palace and Chips was purchased for $27 million, or about $1,248 per square foot, according to Pierce County public records. The seller was an entity affiliated with Maverick Gaming, and the buyer was an entity affiliated with Oak Street Real Estate Capital, which is based in Chicago, Ill.
Located at 8108 and 8200 Tacoma Mall Blvd., the single-parcel property consists of two buildings at 7,817 square feet and 13,807 square feet, Pierce County records show. The structure sits on the east end of the city, just off the Interstate 5 ramp at South 84th Street, neighboring a 7-11. According to the property’s website, the casino features gaming tables, a poker room and a bar and restaurant.