7500 W Baseline Rd
Hillsboro, OR 97123
Albertsons · Retail Property For Sale

Marcus & Millichap has been selected to exclusively market for sale, the Albertsons grocery store in Hillsboro, Oregon. The subject property serves as the anchor tenant for Hillsboro Promenade, a popular neighborhood shopping center located in Hillsboro, ten miles west of Portland. Part of the “Silicon Forest,” Hillsboro is home to several major tech companies such as Intel and IBM and is close to nearby Nike World Headquarters in neighboring, Beaverton. The subject property is nearby the new Urban Growth Boundary expansion, which will add approximately 25,000 new residents in the immediate area. Built in 1998, the subject property has a triple-net (NNN) lease with approximately three and a half years remaining on the current 25-year term and six 5-year renewal options guaranteed by Albertsons LLC. The subject property consists of a single-level 55,068-square foot structure located on a 4.67-acre parcel within Hillsboro Promenade. It is a steel-framed building with an attractive exterior design, and is clad with split-faced concrete masonry units, EIFS, and decorative river rock stone highlights. This store is the anchor tenant for a beautiful and impeccably maintained 90,000-square foot neighborhood shopping center that was also constructed in 1998. In addition, the supermarket and shopping center have excellent accessibility, with a signalized entry from Southwest Baseline Road and direct access off Southwest Cornelius Pass Road (84,808 vehicles per day). In 2016 Cornelius Pass Road completed a widening project that improved the traffic counts as a primary north-south arterial connecting the Sunset Highway (US Hwy 26) to the Southwest Tualatin Valley Highway, the two primary east- west traffic routes between Portland and the Washington County suburbs.