{"id":1004353784,"date":"2019-09-20T03:59:50","date_gmt":"2019-09-20T11:59:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004353784"},"modified":"2021-05-10T02:06:35","modified_gmt":"2021-05-10T10:06:35","slug":"the-rainier-cos-sells-27-asset-retail-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/the-rainier-cos-sells-27-asset-retail-portfolio\/","title":{"rendered":"The Rainier Cos. Sells 27-Asset Retail Portfolio"},"content":{"rendered":"
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Josey Lane, Carrollton. Image courtesy of CBRE<\/em><\/p><\/div>\n

The Rainier Cos. has sold a 27-property retail portfolio spread across eight states in the Central U.S., with 14 of the assets situated in Texas. A CBRE team facilitated the transaction.<\/p>\n

The remaining properties are located in Colorado, Kansas, Missouri, Montana, Oklahoma, Utah and Wyoming. The portfolio encompasses some 678,000 square feet of space with a combined occupancy rate of 92 percent. Furthermore, the properties have performed at above 90 percent occupancy for more than 20 years.<\/p>\n

The average rent for the portfolio is $6.25 per square foot, with 19 of the assets being single-tenant and the rest being multi-tenant, housing no more than three tenants. The roster consists of a mix of stable businesses including:<\/p>\n