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Seattle & Northwest  + Oregon  + Retail  |  September 23, 2024
Jasmine Kilman
By: Jasmine Kilman

Hanley Arranges Sale of Salem Shopping Center for $13M

Hanley Investment Group Real Estate Advisors arranged the sale of Keizer Village Shopping Center, a 76,785-square-foot, 99%-occupied neighborhood shopping center in Keizer, Oregon, for $13 million.

Hanley Investment Group’s Executive Vice President Kevin Fryman, in association with ParaSell, Inc., represented the seller, Cumberland Holdings, LLC, in Rolling Hills Estates, California. James Kim of Windermere Real Estate/Lane County represented the buyer, a private investor from Eugene.

“We procured a private 1031 exchange investor who was a first-time shopping center buyer and closed escrow at 97% of the asking price,” said Fryman. Keizer Village Shopping Center, located at 3830-3860 River Road North in Keizer, spans 5.18 acres.

Built in 1962 and renovated in 2004, the center hosts a mix of national and regional tenants, including Little Caesar’s Pizza, Metro by T-Mobile, Subway, and US Market, along with local anchors Physiq Fitness and The Thrift Store.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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