Northmarq’s Pacific Northwest Investment Sales team brokers the sale of Oregon Trail Center

GRESHAM, Ore. (Sept. 13, 2024) — Northmarq’s Pacific Northwest Commercial Investment Sales team of Sean Tufts, Kevin Adatto, Scott Frank and Joe Dugoni successfully brokered the sale of the 192,298-sq.-ft. Oregon Trail Center in Gresham, Oregon.

Northmarq represented both the seller, Rhino Investments Group, LLC of Henderson, Nevada, and the buyer, Hyperion Realty Capital of Sherman Oaks, California, in the deal.

“Oregon Trail Shopping Center represents a significant opportunity to continue the improvement of one of Gresham’s strongest retail centers,” Tufts said. “With Big Lots! recent closure announcement we are excited to see the buyer continue to improve the center.”

The Oregon Trail Center, strategically located along E Burnside in Gresham, Oregon, features 196,298 square feet of retail space anchored by national and regional brands such as Daiso, Marshalls, Office Depot, Big 5, and Kids Empire. The center also includes pad buildings housing Chipotle, Dairy Queen, Firestone, and Starbucks. Built in 1977, the center serves an approximate daytime population of 105,000 within three miles and benefits from its proximity to U.S. Route 26.

Northmarq’s Northwest team has deep experience in the region, having brokered multiple shopping centers in the trade area and currently marketing several significant properties, including grocery anchored centers Milwaukie Marketplace (185,000 sq. ft.) and Tanasbourne Village (206,000 sq. ft.) on behalf of Kimco and PGIM and the 96,000-sq.-ft. Rockwood Plaza.  The seven member Northwest team has closed over 1.2 million square feet of shopping centers in the last three weeks with a year to date total of 81 transactions closed or pending with a total consideration of $673 million and over 4 million square feet.

Tufts, Adatto, Frank and Dugoni joined Northmarq in August 2023 from CPX, LLC, establishing new Seattle and Portland offices for Northmarq and reinforcing best-in-class service for clients in the Pacific Northwest and across the country.