Coos Bay, Ore. — AlpHubbard LLC has acquired a restaurant building located in Coos Bay for $1.9 million. Burger King occupies the 2,824-square-foot freestanding drive-thru property, which was constructed in 1992. Todd VanDomelen and Mike Brown of Norris & Steven Inc. represented the buyer, and Clayton Brown of Marcus & Millichap represented the seller, Ternik LLC.
Lincoln City, Ore. — Horizon Group Properties (HGP) has acquired Lincoln City Outlets in Lincoln City for $35.3 million, in a joint venture with an entity doing business as LC Outlets JV LLC. The open-air outlet center comprises 50 individual retail, restaurant and venue spaces. Tenants at the property include Nike, Coach, Pendleton, North Face, Eddie Bauer, Scout Northwest Trading Co., Salt and Point Break Fitness. Gilgamesh Brewing also recently opened at the center. HGP will act as the managing member of the joint venture and handle the leasing, management and …
Camp Hill, Pa. — A&G Real Estate Partners will market 79 Rite Aid store leases for sale, in its capacity as real estate advisor to the company, pending approval by the U.S. Bankruptcy Court for the District of New Jersey. Part of Rite Aid’s financial restructuring process, this marks the third tranche of leases to be sold and follows a set of 92 store leases that became available in November. Ranging from 5,502 to 31,468 square feet, the leases are located in 11 states, including California, Connecticut, Maryland, Michigan, New Jersey, …
Milwaukie, Ore. — Three new tenants have signed leases at Milwaukie Marketplace, a 185,760-suqare-foot retail center located in Milwaukie. Ace Hardware will occupy a 16,389-square-foot space at the property, and New Seasons Market will occupy 42,630 square feet, with both store openings scheduled for early next year. Luna’s Ice Cream has also signed a lease at the center and opened a 1,200-square-foot shop. Kimco Realty is the landlord.
Minneapolis — The Target Corp. has announced plans to close nine stores in four states. Scheduled to close Oct. 21, the stores are located in New York City; Seattle; Portland, Oregon; San Francisco; and Oakland, California. In a statement, the brand attributed the closures to the fact that “theft and organized retail crime are threatening the safety of [its] team and guests and contributing to unsustainable business performance.”
Happy Valley, Ore. — CBRE has arranged the sale of a 146,888-square-foot property located in Happy Valley, a suburb of Portland. Formerly occupied by Sears, the building is physically attached to the adjacent Clackamas Town Center mall, which totals 1.4 million square feet. Dick’s Sporting Goods partially backfilled the property in 2019 and opened in 2020 following the departure of Sears in 2018. The remainder of the building, including two 15,000-square-foot ground-level spaces and a 64,000-square-foot upper-level space, remains vacant. Dino Christophilis and Daniel TIbeau of CBRE represented the undisclosed seller …
Portland, Ore. — Norris & Stevens Inc. has brokered the $2.3 million sale of a standalone retail building in Portland. Built in 1987, the property comprises 12,371 square feet at 16544 S.E. Division Street. Luis Martin del Campo and Michael Simmons of Norris & Stevens represented both the buyer, Yusuf Iqbal, and the seller, Harold Ward, in the transaction.
Hillsboro, Ore. — Newmark has arranged the sale of The Streets of Tanasbourne, a 371,791-square-foot shopping center located in Hillsboro. Nicholas Bicardo, Nick Kucha and Cheyne Bloch brokered the sale on behalf of the undisclosed seller. Balboa Retail Partners purchased the property. Macy’s, H&M, REI and Sephora anchor the center, which was 93 percent leased at the time of sale.
Medford, Ore. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $6.1 million sale of Jackson Creek Center, a 84,610-square-foot shopping center located in Medford. Albertson’s anchors the property, which was 93 percent occupied at the time of sale. Other tenants at the center include Oregon Internal Medicine, West Main Spirits, Ace Force One, El Arriero, Subway, UScellular and Wells Fargo. Bill Rose of IPA represented the seller, Citivest Commercial Investments, in the transaction. Adam Lewis is Marcus & Millichap’s broker of record in Oregon.
Beaverton, Ore. — Hyperion Realty Capital has purchased Beaverton Town Square in Beaverton, approximately 8 miles west of Portland. The shopping center, which is anchored by Trader Joes, comprises 103,000 square feet and multiple buildings. Kevin Adatto and Sean Tufts of CPX arranged the sale of the property on behalf of the seller, a family.
