Marcus & Millichap Negotiates $6.2 Million Sale of Broadway Town Square Mixed-Use Asset in Oregon

by Alex Tostado

Salem, Ore. — Marcus & Millichap has negotiated the sale of Broadway Town Square, a mixed-use property located at 1127 Broadway St. NE in Salem. A limited liability company sold the property to an undisclosed buyer for $6.2 million. The sale included two condominiumized, multi-story buildings connected by a skybridge totaling approximately 38,056 square feet of rentable space and the underlying 1.57-acre lot. Developed in 2009 by Telos Development Co., the property features 21 multifamily units, seven retail/office suites and Salem Cinema, a three-screen independent theater. Sean Houser and Will Stone of Marcus & Millichap’s Portland office represented the seller in the transaction.

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