Longview, Wash. — CBRE has arranged the $38.3 million sale of Triangle Center, a 260,627-square-foot community shopping center located in Longview.
The property was 98 percent leased at the time of sale to tenants such as Ross Dress for Less, Bed Bath & Beyond, Michaels, Petco, Rite Aid, Ace Hardware, Ulta Beauty, Big 5, Office Depot, Five Guys, Great Clips and GameStop. The center is also home to Winco Foods, which was not included in the sale.
Philip Voorhees, Jimmy Slusher, Kirk Brummer, James Tyrrell, Dino Christophilis and Alex Martinac of CBRE represented the seller, Highlands REIT, in the transaction. The private, San Diego-based buyer purchased the center to complete a 1031 exchange. CBRE’s Debt & Structured Finance team led by Shaun Moothart and Danielle Priore exclusively advised the buyer in procuring debt financing for the acquisition.