HERITAGE MALL CHANGES HANDS IN ALBANY

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ALBANY, ORE. — Vintage Real Estate LLC has acquired the 406,500-square-foot Heritage Mall, an underperforming shopping center in Albany, from a consortium of lenders for an undisclosed sum. Albany is one of the fastest growing cities in Oregon. A major shopping destination for the city and Linn County, Heritage Mall features 52 major retailers, boutiques and restaurants. Among the retailers are Target, Sears, Ross Dress for Less and Old Navy, Maurices, rue21, Zumiez, Famous Footwear, GameStop and Bath & Body Works. Heritage Mall is located on 33 acres west of Interstate 5 and just north of Corvallis, home of Oregon State University and its more than 26,000 students. The mall, which opened in 1988, was remodeled in 2006 and currently is 50 percent occupied. This transaction removed $38 million in debt from the property.

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