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Seattle & Northwest  + Portland  + Retail  | 
Balboa Retail Partners Acquires Hillsboro Shopping Mall

Balboa Retail Partners Acquires Hillsboro Shopping Mall

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.”


Inside The Story

Balboa Retail PartnersNewmark's Nicholas BicardoThe Streets of Tanasbourne

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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  • ◦Sale/Acquisition