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Retail Shopping Center for Sale in Gresham Suburb of Portland

Wednesday, April 13, 2016

Update: HFF closed the sale of this property.  For information on similar properties, please contact HFF Director Nick Kassab in HFF's Portland office.

HFF is proud to to offer investors the opportunity to acquire the 100-percent fee simple interest in the Gresham Station Shopping Center, a retail power center in Portland's eastern region.

Gresham Station Shopping CenterThe 337,958-square-foot, 89-percent-occupied retail property is located in Gresham, a suburb east of Portland, Oregon. As the premier regional power center in east Multnomah County, Gresham Station is surrounded by a burgeoning population with gentrifying demographics and a higher-than-average household income. The retail property features a strong traffic count and easy access with nearby highways and public transportation.

Built in 2001, Gresham Station comprises a Best Buy, Bed Bath & Beyond, Old Navy, Starbucks, Ulta Beauty and a 45,000-square-foot, single-tenant, net leased LA Fitness. The retail property in Portland showcases a highly-attractive, anchor-to-shop ratio providing long-term stability with approximately 45 percent of the GLA comprising anchor space (10,000 square feet and larger).

As Gresham and eastern Portland continue developing, the retail property is on the market for the first time since 2002 and gives investors the opportunity to acquire a stabilized asset with in-place yield, lease-term and significant leasing upside.

Retail Property in Portland Investment Benefits

  • Re-imagined Trade Area: Projects like the Civic Neighborhood District Update, One Gresham Program and Powell-Division Transit and Development project are modernizing the Gresham trade area of more than 243,000 persons within a five-mile radius.
  • Diversified Tenant Base: Gresham Station benefits from an impressive group of high-quality retailers with good base retail tenant mix and merchandising strategy, including apparel/footwear, home goods, restaurants/food service, beauty supply, healthcare and more.
  • Solid Institutional Ownership: Originally developed by CenterCal, the retail property in Portland is available for the first time since 2002, as part of the first phase of a master-planned, 60-acre development offering institutional quality with a modern design, tremendous curb appeal and dynamic shopping experience.
  • Free and Clear Offering: Gresham Station is offered free and clear of existing financing, giving investors the ability to manufacture high property level returns in a low interest-rate environment with fresh lender allocations and flexible financing strategies.

The Gresham Station retail property in Portland offers investors the opportunity to acquire an institutional quality power center below replacement cost allowing an attractive entry point, limited downside risk and the ability to compete effectively long-term in the leasing market. For more information, contact HFF Director Nick Kassab in HFF's Portland office.

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