Oregon

IPA Arranges Sale of 84,610 SF Jackson Creek Shopping Center in Medford, Oregon

by Jeff Shaw March 20, 2023

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.

March 20, 2023

Acquisitions Office Oregon Retail Western

Norris & Stevens Brokers $1.5M Purchase of Office/Retail Building in Portland, Oregon

by Amy Works March 2, 2023

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.

March 2, 2023

Acquisitions Office Oregon Retail Western

Norris & Stevens Brokers $1.5M Purchase of Office/Retail Building in Portland, Oregon

by Amy Works March 2, 2023

March 2, 2023

Acquisitions Multifamily Oregon Seniors Housing Western

Cushman & Wakefield Brokers $57.8M Sale of The Alexander Bend Independent Living Community in Bend, Oregon

by Amy Works February 24, 2023

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.

February 24, 2023

Acquisitions Office Oregon Western

Adult & Teen Recovery Centers Buys Office Building in Milwaukie, Oregon for $3.5M

by Amy Works February 16, 2023

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.

February 16, 2023

Acquisitions Multifamily Oregon Student Housing Western

Marcus & Millichap Negotiates Sale of 650-Bed Ducks Village Student Housing Community Near the University of Oregon

by Amy Works February 13, 2023

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.

February 13, 2023

Acquisitions Oregon Retail Western

Hyperion Realty Capital Buys 103,000 SF Beaverton Town Square Shopping Center in Oregon

by Amy Works February 1, 2023

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.

February 1, 2023

Development Multifamily Oregon Student Housing Western

CRG Plans 12-Story Chapter at Eugene Student Housing Property Near University of Oregon

by Amy Works January 26, 2023

EUGENE, ORE. — CRG and its partner Kenter Capital have secured the land and construction financing for Chapter at Eugene, a 12-story, 119-unit student housing community adjacent to the University of Oregon campus in Eugene. Construction is slated to begin later this month, with delivery scheduled for 2024 to coincide with the start of the 2024-25 academic year. Located at 754 E. 13th Ave., the 302-bed Chapter at Eugene will offer a mix of studio, two-, three-, four- and five-bedroom apartments, with preleasing scheduled to begin in early fall 2023. The furnished residences will feature wood-style flooring, kitchens with quartz countertops and stainless steel appliances, living rooms with smart TVs, and in-unit laundry. Community amenities will include a 5,000-square-foot rooftop recreation deck with a dog run, dining areas and fire pits with seating, and a 12th-floor resident lounge with a demonstration kitchen and study rooms, as well as a fitness center, yoga room, study areas, resident storage and bicycle parking on the ground floor. Byline Bank provided construction financing, Seattle-based Jackson Main Architecture served as architect and Springfield, Ore.-based John Hyland Construction is serving as general contractor.

January 26, 2023

7402-7410-SE-Johnson-Creek-Blvd-Portland-OR

Acquisitions Industrial Oregon Western

Norris & Stevens Negotiates $7.6M Sale of Mt. Scott Industrial Park in Portland, Oregon

by Amy Works January 23, 2023

PORTLAND, ORE. — Norris & Stevens has arranged the sale of Mt. Scott Industrial Park, an industrial asset located at 7402-7410 SE Johnson Creek Blvd. in Portland. Frith Investments 3 acquired the asset from Mt. Scott Industrial Park LLC for $7.6 million. Nick Chessar and Scott Finney of Portland-based Norris & Stevens represented the seller, while Tyler Dean of Macadam Forbes represented the buyer in the transaction. Constructed in 1971 and 1976 on 3.6 acres, the 35,000-square-foot industrial park features office space in each suite, 48 parking spaces, eight grade-level doors and eight drive-in doors. Mt. Scott Industrial Park was 100 percent occupied at the time of sale.

January 23, 2023

Acquisitions Multifamily Oregon Washington Western

Pacific Union Investors Acquires 2,195-Unit Multifamily Portfolio in Pacific Northwest

by Amy Works January 20, 2023

PORTLAND, ORE., AND SEATTLE — Pacific Union Investors has purchased a nine-property, garden-style apartment portfolio totaling 2,195 units in the Seattle and Portland metropolitan areas. Terms of the transaction were not released. The Washington assets include The Gates of Redmond and Olde Redmond Place in Redmond, Madison Sammamish in Sammamish and Crystal Creek in Vancouver. The Oregon communities include Golf Creek and Meridian at Murrayhill in Beaverton, Orenco Gardens and The Jones in Hillsboro and Forest Rim in Tualatin. Built between 1982 and 2013, the communities offer comprehensive amenity sets, green space with an average density of 16.7 units per acre, and units averaging 900 square feet. This acquisition expands Pacific Union Investors’ Northwest portfolio to 4,915 units across 23 properties.

January 20, 2023

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