Wednesday, June 7, 2017

HFF Closes Sale of Southgate Shopping Center in Portland, OR

Southgate Shopping Center, Southgate Area, Portland, OR

Brian Hanson
PORTLAND, OR –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Southgate Shopping Center, a 50,826-square-foot, value-add, multi-tenant retail strip center in the Southgate area of Portland, Oregon.

HFF marketed the property on behalf of the seller, ML Commercial Properties, Inc.  A private buyer purchased the shopping center. 

Southgate Shopping Center is 97 percent leased to 10 tenants, including Office Max, HobbyTown, Round Table Pizza, Starbucks, H&R Block, Arby’s and Spring Mobile. 

Situated on 3.4 acres at 10317-10465 SE 82nd Avenue, the center is positioned at the signalized intersection of SE King Road and SE 82nd Avenue in Southgate, a portion of the southward extension of Portland that sits directly along the historic wagon trails.

 The center is proximate to Highway 213 and accessible from Interstate 205.  More than 130,278 residents earning an average annual household income of $71,118 live within three miles of Southgate Shopping Center.

Nick Kassab

The HFF investment sales team was led by directors Brian Hanson and Nick Kassab.

“Competition was stiff, showing the market’s significant appetite for well-positioned, value-add retail opportunities,” Hanson said.  “The buyer plans to leverage its retail relationships and experience to upgrade the center and capitalize on the recent positive demographic shift in a historically strong retail location.”

Founded in 2006, ML Commercial Properties, Inc., owns and asset manages 28 investment properties throughout the country.  These investment properties include apartment buildings, shopping centers and one hotel.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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