Northmarq announces two property retail portfolio sale in Pacific Northwest
SEATTLE (Aug. 26, 2024) — Northmarq’s Pacific Northwest Commercial Investment Sales team of Sean Tufts, Kevin Adatto, Scott Frank and Joe Dugoni successfully brokered the sale of two retail centers in Oregon and Idaho.
Northmarq represented both the seller, Rhino Investments Group, LLC and the buyer Hyperion Realty Capital. These properties total more than 490,629 square feet of retail space in the Pacific Northwest region.
The portfolio includes:
- District 208 – Nampa, Idaho
- Clackamas Town Center Retail – Clackamas, Ore.
“We are pleased to have helped execute a strategic portfolio sale between two valued clients. Without the full trust of all parties, deals like this would never come to fruition. We are excited to see each of these continue to their full potential,” said Tufts.
Located at 1509-1609 Calwell Blvd., Nampa, Idaho, the District 208 Shopping Center is a former interior mall that was repurposed into a multi-use project. The retail portion that transacted features 397,006 square feet with leases to Ross, Mor Furniture, Big 5 Sporting Goods, Boot Barn, and JOANN Fabric and Crafts. The seller has recently completed a new 252-unit multifamily project on the backside of the mall that was not included in the sale.
Clackamas Town Center Retail features 93,623 square feet at 11900 SE 82nd Ave., Happy Valley, Ore. Built in 1981, half of the property was recently leased by Sky Zone, who signed a 10-year lease for 53% of the property on the lower lever and is currently in permitting. There are multiple options for the main level with interest from national and regional brands. The property is a part of the broader Clackamas Town Center featuring 155 stores and 7,500 parking spaces. The property is conveniently located near Interstate 205, Southeast Sunnyside Road and Southeast 82nd Avenue.
Tufts, Adatto, Frank and Dugoni joined Northmarq in August 2023 from CPX, LLC, establishing new Seattle and Portland offices for Northmarq and reinforcing best-in-class service for clients in the Pacific Northwest and across the country.
Meet our team
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
