PORTLAND, ORE. — BKM Capital Partners has purchased Airport Business Center in Portland for $37.3 million. The 11-building light industrial portfolio is located at 6756 NE Alderwood Road and 6620-7040 NE 79th Court in Portland’s Columbia industrial corridor. The 228,518-square-foot business park contains 41 units with an average size of 5,600 square feet. The spaces were 92 percent occupied at the time of the sale. BKM acquired the asset through a joint venture partnership with TerraCore Capital.
ALBANY, ORE. — Marcus & Millichap has arranged the sale of the 33-unit Sheridan Plaza apartments in Albany. A Portland-based private client group acquired the asset for $4.2 million. The community is located at 208 SE 5th Ave. and 205 SE 6th Ave. Albany is approximately halfway between Eugene and Salem. The undisclosed seller purchased the asset in 2021, at which time it made capital improvements to the property. This included new roofs and gutters, adding a garbage enclosure, resurfacing the parking lot, and new windows and sliders. The sellers were able to increase the cashflow by renovating several units and partnering with professional third-party management. The buyer plans to continue the renovation process and increase rents, according to Marcus & Millichap. The firm’s Georgie Christensen-Riley and Joshua C. Reynolds, along with the Christensen Group, represented the seller in the transaction.
HILLSBORO, ORE. — Newmark has arranged the sale of The Streets of Tanasbourne, a 371,791-square-foot shopping center 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, an 84,610-square-foot shopping center 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.
PORTLAND, ORE. — Portland-based Norris & Stevens has arranged the acquisition of 7970 Milwaukie Building, an office and retail building located at 7970 SE Milwaukie Ave. in Portland. Christ Church Sellwood acquired the property from CBA Group for $1.5 million. Classical Ballet Academy currently occupies the 5,000-square-foot facility, which includes six parking spaces. Tim Pfeiffer and Camden Muller of Norris & Stevens represented the buyer, while Jim Gillespie and Stacey Rustad-Smith of Keller Williams Realty represented the seller in the deal.
PORTLAND, ORE. — Portland-based Norris & Stevens has arranged the acquisition of 7970 Milwaukie Building, an office and retail building located at 7970 SE Milwaukie Ave. in Portland. Christ Church Sellwood acquired the property from CBA Group for $1.5 million. Classical Ballet Academy currently occupies the 5,000-square-foot facility, which includes six parking spaces. Tim Pfeiffer and Camden Muller of Norris & Stevens represented the buyer, while Jim Gillespie and Stacey Rustad-Smith of Keller Williams Realty represented the seller in the deal.
BEND, ORE. — Cushman & Wakefield has arranged the sale of The Alexander Bend, a 136-unit independent living community in Bend. Opened in late 2019 and representing the city of Bend’s newest independent living offering in over 10 years, The Alexander Bend features 3.1 acres of adjacent land. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Bailey Nygard represented the seller, BPM Real Estate Group, in the transaction. The buyer was Touchmark, which renamed the community Touchmark at Pilot Butte and will operate it alongside Touchmark at Mount Bachelor Village on the west side of Bend. The price was $57.8 million.
MILWAUKIE, ORE. — Adult & Teen Challenge Pacific Northwest, an Oregon nonprofit corporation that operates addiction recover centers, has acquired an office building located at 18600 SE McLoughlin Blvd. in Milwaukie. Clackamas Community Federal Credit Union sold the asset for $3.5 million. Constructed in 1966, the two-story, 18,400-square-foot building features an elevator, T1 and CAT5 internet connections and 83 surface parking spaces. Adult & Teen Challenge focuses on a religious-centered model and has more than 220 recovery centers in the United States. The company plans to use the building as a medical and mental health services facility. Tim Pfeiffer and Camden Muller of Portland-based Norris & Stevens represented the seller, while Will Stone of Marcus & Millichap represented the buyer in the deal.
EUGENE, ORE. — Marcus & Millichap has arranged the sale of Ducks Village, a 650-bed student housing property located near the University of Oregon campus in Eugene. The 22-building community offers 230 units. Shared amenities include a renovated clubhouse, resort-style swimming pool, fire pits, a fitness center, basketball courts and a tanning booth. Joel Dumes and Patrick Mullowney of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer in the transaction.
BEAVERTON, ORE. — Hyperion Realty Capital, formerly Portal Investment Management, has acquired Beaverton Town Square, a shopping center located at 11635-11763 SW Beaverton Hillsdale Highway in Beaverton. A private family sold the asset for an undisclosed price. Totaling 103,000 square feet, Beaverton Town Square consists of multiple buildings on nearly 12 acres. Trader Joe’s anchors the retail center. Kevin Adatto and Sean Tufts of CPX handled the transaction.