HFF Arranges Sale of Portland Retail Center
As the new owner of the asset, Asana Partners plans to make significant enhancements to the property and push leasing efforts to attract new tenants.
By Adina Marcut
Oswego Village
HFF has secured the sale of Oswego Village, a nearly 103,000-square-foot retail center in Lake Oswego, Ore. Asana Partners acquired the asset free and clear of existing debt for an undisclosed price from an institutional seller.
Located at 11 S. State St. on almost 8 acres, Oswego Village is along State Highway 43, providing convenient access to downtown Portland, Ore. The five-building center is 85 percent leased to Whole Foods 365, Ace Hardware, Laughing Planet, Subway, Banfield Pet Hospital, North Lake Physical Therapy and others. Asana Partners plans to upgrade the property and push leasing efforts in order to fill the center with tenants. The Lake Oswego suburb has roughly 40,000 residents with an average annual household income of $158,761.
“Oswego Village is a generational piece of real estate. Asana Partners will make significant enhancements, including aesthetic upgrades and attracting retailers that complement and connect with the surrounding community,” said HFF Senior Director Nick Kassab, in a prepared statement. Kassab and Managing Director Bryan Ley were part of the investment advisory team that represented the seller.
In another recent deal, HFF also worked on behalf of the seller in the disposition of a $54.8 million-square-foot Atlanta retail asset.
Image via Google Street View
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