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Gramor Development Inc. has sold Timberland Town Center in Cedar Mill for $41 million.

The property was acquired by JLL Income Property Trust, based in Chicago. Capital Pacific LLC of Lake Oswego brokered the sale.

Gramor developed and managed the 91,000-square-foot, Class-A retail center. Timberland Town Center opened in early 2015 and was 98.5 percent leased at the time of sale, according to a Gramor news release.

The development is anchored by a 40,000-square-foot Market of Choice grocery store. It also has a roster of restaurants and coffee shops including Ava Roasteria, Blu Olive Mediterranean Bistro and La Sen Vietnamese Grill.

Located in the bustling Sunset Highway corridor off of U.S. Route 26, Timberland was highly desirable because of its proximity to affluent neighborhoods, strong schools and surrounding employment base, stated Barry Cain, Gramor’s president.

Meanwhile, Gramor is at work on The Waterfront Vancouver, a $1.5 billion mixed-use development spanning 32 acres along the Columbia River in Vancouver, Washington.