Northmarq’s new Northwest retail team broker sale of former Nordstrom property in Clackamas Town Center
PORTLAND, Ore. (Aug. 24, 2023) — Northmarq’s Northwest Investment Sales team of Managing Director Sean Tufts, Managing Director Kevin Adatto and Associate Joe Dugoni, arranged the sale of a former Nordstrom property located at 11900 SE 82nd Ave. in Happy Valley, Oregon. Northmarq seamlessly represented both the seller and the buyer in the deal, further underscoring the firm's commitment to facilitating mutually advantageous transactions.
"We are delighted to have played a pivotal role in this transaction," commented Tufts. "This transaction showcases the importance of the ability to navigate off-market deals in turbulent times.”
Situated at the north end of the prominent Clackamas Town Center, the former Nordstrom property spans an impressive 120,000 sq. ft. and is an integral part of the renowned mall. The property's prime location positions it as a hub of untapped potential, offering a unique redevelopment opportunity in one of Portland’s most sought-after areas. Led by two former partners at CPX, who moved to Northmarq’s platform in early August, Tufts and Adatto continue to establish a track record of identifying and seizing opportunities and helping quickly establish Northmarq as an industry frontrunner in the Northwest.
"It takes specialized partnerships to make deals work in today’s market, and I’m pleased we were chosen to take the next steps with this iconic asset,” said Sanjiv Chopra, CEO of Rhino Investments.
Rhino Investments Group is a privately held, diversified real estate acquisition and development firm known for its expertise in repositioning and redeveloping underutilized, distressed, or environmentally challenged properties. The company has acquired and developed over 5 million square feet of property in the United States.
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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
