Newmark has arranged the sale of The Streets of Tanasbourne, a 372,000-square foot outdoor shopping mall in the Portland, OR submarket of Hillsboro, OR. Public records indicate Balboa Retail Partners acquired the lifestyle center from DWS Group for $53.5 million.

Currently 93% leased, The Streets of Tanasbourne is anchored by Macy’s, H&M, REI and Sephora and is home to a dynamic mix of tenants in an open-air environment. The 17.7-acre site also includes a four-level parking garage and is situated in an area that is part of the region’s “Silicon Forest”, home to some of technology’s biggest names.

“As seen with several lifestyle centers that we have recently marketed and sold on the West Coast, Streets of Tanasbourne attracted a tremendous amount of capital,” said Newmark Vice Chairman Nicholas Bicardo who facilitated the deal with the firm’s Nick Kucha and Cheyne Bloch. “This is a top performing asset in the Portland region and offers the buyer a great mix of stable income with strong upside in the anchor and inline suites.”