June 29, 2017 Comments Off on Vancouver, WA Value-Add Retail Center Trades for $21.5M Views: 567 National News, Washington, West

Vancouver, WA Value-Add Retail Center Trades for $21.5M

HFF closed the $21.5-million sale of Fourth Plain Center, a 117,143-square-foot, value-add, multi-tenant shopping center in Vancouver, WA. HFF marketed the property on behalf of the seller, 4th Plain Center LLC.

Fourth Plain Center comprises four buildings that were most recently renovated in 2006. The center is leased to a mix of professional services, health and fitness, restaurant and retail tenants.

The property is situated in northeast Vancouver on nearly eight acres at 2903 NE Andresen Rd., 2913 NE 72nd Dr. and 2904 NE Burton Rd.

HFF’s investment sales team was led by Nick Kassab, who says, “The center has a solid list of tenants, including 24 Hour Fitness and Walgreens, and provides value-add upside and optionality via leasing up the vacant former Office Depot box, either to another junior anchor or potentially a specialty grocer.”

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