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Gateway Shopping Center 6 Retail Properties Offered at $44,875,000 in Portland, OR
Investment Highlights
- Dominant, Regional Draw Shopping Center – Gateway Shopping Center is a 96% occupied, ±293,259 SF grocery-anchored power center
- Outstanding NOI and CAGR Growth – the NOI is projected to increase by $1,844,153 (±57) over the anticipated 10-year hold period, producing a 4.6% CAGR
- Strong Tenant History and Retention – Property-wide, 92% of the in-place GLA has operated at this location for over 12 years
Executive Summary
* Dominant, Regional Draw Shopping Center – Gateway Shopping Center is a 96% occupied, ±293,259 SF grocery-anchored power center strategically located at the junction of I-205 (±142,400 CPD) and I-84 (±73,200 CPD). Anchored by Fred Meyer, Ross Dress for Less, and Office Depot
* Former Kohl’s Opportunity – The former ±75,040 SF Kohl’s parcel is available together or separately from the remainder of Gateway Shopping Center. On its own, the ±6.42 acre parcel offers investors a blank canvas opportunity to re-tenant the space and/or a reposition/redevelopment opportunity – Please contact Brokers to discuss this portion of the offering
* Retail Hub Location – Strategically located just off the I-205 and I-84 Junction with over 172,000 residents ($109,761 AHI) within 3 miles, Gateway Shopping Center is among the dominant retail hubs in the greater area, benefiting from surrounding retailers including WinCo Foods, McDonald’s, Arco, and more
* Strong Tenant History and Retention – Property-wide, 92% of the in-place GLA has operated at this location for over 12 years, including Fred Meyer, Ross, Office Depot, Carl’s Jr, Applebee’s, Edward Jones, Jamba Juice, Great Clips, GameStop, and others
* Outstanding NOI and CAGR Growth – Through lease-up of vacant space, embedded rental increases, and below-market rents rolling to market, the NOI is projected to increase by $1,844,153 (±57) over the anticipated 10-year hold period, producing an attractive 4.6% CAGR
* Former Kohl’s Opportunity – The former ±75,040 SF Kohl’s parcel is available together or separately from the remainder of Gateway Shopping Center. On its own, the ±6.42 acre parcel offers investors a blank canvas opportunity to re-tenant the space and/or a reposition/redevelopment opportunity – Please contact Brokers to discuss this portion of the offering
* Retail Hub Location – Strategically located just off the I-205 and I-84 Junction with over 172,000 residents ($109,761 AHI) within 3 miles, Gateway Shopping Center is among the dominant retail hubs in the greater area, benefiting from surrounding retailers including WinCo Foods, McDonald’s, Arco, and more
* Strong Tenant History and Retention – Property-wide, 92% of the in-place GLA has operated at this location for over 12 years, including Fred Meyer, Ross, Office Depot, Carl’s Jr, Applebee’s, Edward Jones, Jamba Juice, Great Clips, GameStop, and others
* Outstanding NOI and CAGR Growth – Through lease-up of vacant space, embedded rental increases, and below-market rents rolling to market, the NOI is projected to increase by $1,844,153 (±57) over the anticipated 10-year hold period, producing an attractive 4.6% CAGR
Property Facts
| Price | $44,875,000 | Number of Properties | 6 |
| Price / SF | $150.06 / SF | Individually For Sale | 0 |
| Cap Rate | 7.25% | Total Building Size | 299,038 SF |
| Sale Type | Investment | Total Land Area | 24.65 AC |
| Status | Active |
| Price | $44,875,000 |
| Price / SF | $150.06 / SF |
| Cap Rate | 7.25% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 6 |
| Individually For Sale | 0 |
| Total Building Size | 299,038 SF |
| Total Land Area | 24.65 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Fred Meyer
1111 NE 102nd Ave, Portland, OR 97220 |
Retail | 188,818 SF | 1987 | - |
|
Office Depot
10010 NE Halsey St, Portland, OR 97220 |
Retail | 71,120 SF | 1992 | - |
| 1307 NE 102nd Ave, Portland, OR 97220 | Retail | 30,529 SF | 1992 | - |
| 10112-10120 NE Halsey St, Portland, OR 97220 | Retail | 3,066 SF | 1995 | - |
|
Carl's Jr.
1403 NE 102nd Ave, Portland, OR 97220 |
Retail | 2,792 SF | 1995 | - |
|
Applebee's
10004 NE Halsey St, Portland, OR 97220 |
Retail | 2,713 SF | 1995 | - |
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