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Seattle & Northwest  + Oregon  + Retail  | 

Kimco Picks Up PDX’s Jantzen Beach for $132M

New Hyde Park, NY-based Kimco Realty Corp. acquired Jantzen Beach, a 746,000-square-foot, open-air shopping center in Portland, OR for $131.8 million. The 96%-occupied property is located at 1405 Jantzen Beach Center, on 67 acres along Interstate 5 and the Willamette River.

“Jantzen Beach is a flagship asset located in a coastal, in-demand market with significant barriers to entry,” said Kimco Realty’s Ross Cooper. “This asset exemplifies a key component of our strategic 2020 Vision to upgrade the quality of our portfolio with selective acquisitions funded by disposition proceeds.”

The Jantzen Beach site has two outparcels for 6,000-square-foot pad buildings, and offers mixed-use densification opportunities via flexible zoning. The center also offers strong mark-to-market upside from several below-market anchor leases.

HFF’s Nick Kassab and Brian Ley marketed the property on behalf of the seller, the State of Michigan Retirement System fund, which was advised by South Carolina-based Edens Development.

For comments, questions or concerns, please contact Dennis Kaiser

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Read more at Business WireConnect With Kimco’s CooperConnect With HFF’s Kassab

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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