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Grants Pass Shopping Center, a 277,378-square-foot complex, is 81 percent leased, according to CBRE. (courtesy of CBRE)
Grants Pass shopping center changes hands
Hilary Dorsey//July 8, 2024//
A shopping center in Grants Pass has sold for $24.65 million.
CBRE鈥檚 Dino A. Christophilis and Daniel Tibeau represented the seller, LNR Partners. The buyer was Rhino Investments, a Las Vegas-based retail development firm that already has retail shopping centers in Washington and Oregon in its portfolio.
The Grants Pass complex, at 820-1160 NE D St., has a total of 277,378 square feet and is 81 percent leased. The shopping center recently gained several national tenants, including Ulta Beauty听补苍诲 T.J. Maxx, and renewed 75,000 square feet in leases, CBRE stated in a press release. Other national tenants include Ross, Petco, Staples, Joann and Rite Aid.
鈥淕rants Pass Shopping Center is the dominant retail property in the market with enormous growth opportunities,鈥� Christophilis stated in the press release. 鈥淭he property offers compelling rental upside and highlights the potential of well-located retail.鈥�
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