Northmarq’s Investment Sales team completes $39 million sale of Milwaukie Marketplace retail center

MILWAUKIE, Ore. (Feb. 18, 2025) — Northmarq’s Pacific Northwest Commercial Investment Sales team led by Kevin Adatto, Sean Tufts, Scott Frank and Joe Dugoni successfully completed the $39 million sale of Milwaukie Marketplace, a multi-tenant retail center located at 10830 SE Oak Street in Milwaukie, Oregon.

Northmarq represented the seller and was the only broker involved in the sale.

“We are excited to have represented a long-standing client in the successful disposition of Milwaukie Marketplace. We appreciate the continued trust and loyalty over the years,” Adatto said. “Retail has been a big bright spot in the industry, and we look forward to continued demand in the space through 2025.”

Built in 1989, Milwaukie Marketplace features 185,760 sq.-ft. of retail space. Comprised of four buildings across nine parcels located along Highway 224, a primary route connecting Hwy 99E and Interstate 225.

Milwaukie is anchored by New Seasons Market having recently-signed a long-term lease. Other tenants include Planet Fitness, Ace Hardware Dollar Tree, Pietro’s Pizza and UPS, Subway, Taco Bell, Starbucks along with numerous LOI’s on the vacant spaces.

Milwaukie Marketplace boasts a location surrounded by more than 422,000 residents in the Milwaukie/Clackamas area. The community includes roughly 580,000 jobs, 32 schools and a collection of lush green spaces scenic river views and proximity to outdoor activities. New Seasons Market serves as one of two major grocery stores catering to over 50,000 households within a 10-minute drive of the property.

Northmarq’s Northwest team has deep experience in the region, having brokered multiple shopping centers in the trade area. The eight member Northwest team has closed over 3.9 million square feet of shopping centers in the last twelve months with a total of 93 transactions closed or pending with a total consideration of $650 million.