REBusinessOnline

Highlands REIT Sells 260,627 SF Shopping Center in Washington for $38.3M

LONGVIEW, WASH. — Chicago-based Highlands REIT has completed the sale of Triangle Center, a community shopping center in Longview, approximately 50 miles north of Portland, Ore. A San Diego-based private buyer acquired the property for $38.3 million.

Built in 2004, the 260,627-square-foot property was 98 percent leased at the time of sale. Tenants include Winco Foods (not included in the transaction), Ross Dress for Less, Bed Bath & Beyond, Michaels, Petco, Rite Aid, Ace Hardware, ULTA Beauty, Big 5, Office Depot, Five Guys Burgers & Fries, Great Clips and GameStop. The shopping center is situated on 36.9 acres of land at 1015 Ocean Beach Highway.

Jimmy Slusher, Kirk Brummer, James Tyrell, Dino Christophilis, Alex Martinac and Philip Voorhees of CBRE represented the seller in the transaction. Additionally, CBRE’s Debt & Structured Finance team led by Shaun Moothart and Danielle Priore advised the buyer in procuring debt financing for the acquisition.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

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