{"id":1004652213,"date":"2023-03-17T04:09:31","date_gmt":"2023-03-17T12:09:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004652213"},"modified":"2023-03-17T04:40:39","modified_gmt":"2023-03-17T12:40:39","slug":"balboa-acquires-54m-portland-area-mall","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/balboa-acquires-54m-portland-area-mall\/","title":{"rendered":"Balboa Acquires $54M Portland-Area Mall"},"content":{"rendered":"<div id=\"attachment_1004652214\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/The-Streets-of-Tanasbourne.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004652214\" data-attachment-id=\"1004652214\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/balboa-acquires-54m-portland-area-mall\/the-streets-of-tanasbourne\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/The-Streets-of-Tanasbourne.png\" data-orig-size=\"1200,900\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"The Streets of Tanasbourne\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Streets of Tanasbourne. Image courtesy of Newmark&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/The-Streets-of-Tanasbourne.png?w=1024\" class=\"wp-image-1004652214 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/The-Streets-of-Tanasbourne.png?w=300\" alt=\"The Streets of Tanasbourne\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/The-Streets-of-Tanasbourne.png 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/The-Streets-of-Tanasbourne.png?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/The-Streets-of-Tanasbourne.png?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/The-Streets-of-Tanasbourne.png?resize=1024,768 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004652214\" class=\"wp-caption-text\">The Streets of Tanasbourne. <em>Image courtesy of Newmark<\/em><\/p><\/div>\n<p><strong>Balboa Retail Partners<\/strong> has acquired The Streets of Tanasbourne, a 371,791-square-foot outdoor shopping mall in Hillsboro, Ore. Public records show that the buyer paid $53.5 million for the asset.<\/p>\n<p>CommercialEdge identified <strong>DWS Group<\/strong> as the seller of the 93 percent leased property. <strong>Newmark <\/strong>brokered the transaction.<\/p>\n<p>Located at 19350 NW Emma Way, within the Silicon Forest tech cluster, the mall serves a population of 101,000 residents. Occupying a 17.7-acre site and featuring a free-standing, four-level structured parking garage, The Streets of Tanasbourne is anchored by Macy&#8217;s, H&amp;M, REI and Sephora.<\/p>\n<p>The shopping mall features a range of national and regional retailers, offering a variety of dining, shopping and service options. Downtown Hillsboro is some 7 miles from the property.<\/p>\n<p>Newmark Vice Chairmen Nicholas Bicardo and Nick Kucha, along with Associate Director Cheyne Bloch facilitated the sale of The Streets of Tanasbourne.<\/p>\n<p>Newmark reported that, among <a href=\"https:\/\/www.commercialsearch.com\/news\/why-these-cre-sectors-provide-safer-harbors\/\">all property sectors<\/a>, retail was the sole sector to exhibit a rise in U.S. investment sales on a yearly basis. By the end of 2022, investment sales in all property sectors saw a decrease of 15 percent year-over-year, while retail sales grew by 4 percent to reach $85.7 billion, marking the highest yearly total since 2018.<\/p>\n<p>In a prepared statement, Bicardo said that The Streets of Tanasbourne provides the buyer with a favorable combination of consistent income and significant <a href=\"https:\/\/www.commercialsearch.com\/news\/what-will-retail-look-like-in-2023\/\">potential for growth<\/a> in both the anchors and inline suites.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property was 93 percent leased at the time of the sale. <\/p>\n","protected":false},"author":3030,"featured_media":1004652214,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,28440,21749,15],"tags":[34483,43859,50999],"class_list":["post-1004652213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-portland","category-retail","category-west","tag-balboa-retail-partners","tag-dws-group","tag-newmark"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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