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Portland Shopping Center Hits the Market at $51M
The Gateway Shopping Center, a retail center anchored by a Fred Meyer store in Portland, was listed by CBRE at $50.8 million or $44.8 million without the plaza’s shuttered Kohl’s store.
Located at Northeast Halsey Street and 102nd Avenue, the property is 96% occupied, reported the Portland Business Journal. Other tenants include a Ross Dress for Less and an Office Depot.
Gateway Shopping Center started out as a Fred Meyer grocery store, built by Fred G. Meyer in 1954 where the former Kohl’s was housed. The 188,000-square-foot Fred Meyer currently at the location was built in 1989, and the rest of the shopping center was built by 1992.
Gateway Shopping Center offers 288,000 square feet of retail buildings. The retail property’s location provides easy access to I-205 and I-84 as well as Portland’s TriMet MAX Light Rail Gateway Transit Center.
