CBRE has arranged the sale of a 146,888-square-foot retail property located at 11800 SE 82nd Avenue in Happy Valley, Oregon. The property is physically attached to, but legally separate from, the 1.4 million square foot Clackamas Town Center regional mall, the second highest performing mall in Oregon.

CBRE’s Dino Christophilis and Daniel Tibeau represented the seller in the transaction. The buyer was a private investment group based in Houston, Texas. “This is an exciting value-add opportunity that highlights the potential and flexibility of well-located retail,” said Dino Christophilis.

After Sears vacated in 2018, DICK’S Sporting Goods partially backfilled the building in 2019, opening for business in October 2020. The remainder of the building remains vacant, including two 15,000-square-foot ground-level retail areas, and a 64,400-square-foot upper-level commercial area — both formerly occupied by Sears. The buyer will look to lease up the vacant areas with new retailers.