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INVESTMENT HIGHLIGHTS
Hard corner of two prominent arterials running through the East Portland/Gresham submarkets.
Stabilized center at 97% occupancy leased to a dynamic mix discount retail, food, fitness, education, and personal services, provides protection from popularity of e-commerce retail.
The Property is being offered well below replacement cost at $180 PSF, allowing an owner to stay competitive on renewals and push rents as options expire.
Over half of the tenants executed substantial extensions over the last few years, including a 10-year Dollar Tree extension in 2021 and a 10-year Planet Fitness extension in 2023.
High-density surrounding residential with over 310K residents within a five-mile radius with an average household income of $89K.
36% of GLA has been occupied by the same tenancy for over 20 years and 80% for over 10 years.
Dollar Tree performs well at the center with reported sales roughly double the national average.
Ingress and Egress provided off SE 182nd and SE Division, the major arterial of SE Division Street that connects East.
Owner benefits from discounted property taxes due to nonprofit status of POIC.
Planet Fitness recently invested over $1M into their space.
