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| Southgate Shopping Center, Southgate Area, Portland, OR |
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| Brian Hanson |
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.
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| 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 | www.hfflp.com
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