Southgate Shopping Center is strategically located along SE 82nd Avenue, a high-profile retail corridor within the Portland MSA that sees traffic counts over 32,000 vehicles per day and benefits from densely populated surrounding neighborhoods (population over 370,000 within a five-mile radius).
JLL, as an exclusive advisor, is pleased to offer the opportunity to acquire Southgate Shopping Center (“The Center”), a 50,863 square foot, multi-tenanted, community center in Portland, Oregon. The Center will be anchored by a brand new, state-of-the-art Planet Fitness, which will significantly increase traffic to the Center, resulting in increased productivity for the surrounding tenants. The offering presents new ownership a stable cash flowing asset in a premier retail location with great visibility and signage. The investor will also benefit from limited tenant rollover with a weighted average lease term of 8.35 years and a solid tenant lineup comprised of 90% national retailers reducing turnover risk and providing long-term stability.