Gresham shopping center sells for $30.85 million

By: Hilary Dorsey//March 31, 2023//

Gresham shopping center sells for $30.85 million

Hilary Dorsey//March 31, 2023//

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Oregon Trail Center is located on Northeast Burnside Road in Gresham. (courtesy of CPX)

A 208,000-square-foot shopping center in Gresham has been purchased for $30.85 million, according to CPX. Rhino Acquisitions LLC bought Oregon Trail Center from KRC Oregon Trail LLC. Both the buyer and the seller were represented by CPX managing partners Kevin Adatto and Sean Tufts.

The shopping center is located at 2077-2279 N.E. Burnside Road. It sits on more than 18 acres and is anchored by Big Lots, Dollar Tree, Marshalls, Michaels and Office Depot. Pad buildings include Chipotle, Dairy Queen, Firestone, Shari鈥檚 and Starbucks.

The property was 81 percent leased at the time of sale and presented a value-add opportunity for the buyer both in lease-up of current vacancies and in parceling off or repurposing pad buildings, CPX stated in a news release.