CBRE Arranges $26.5 Million Sale of Washington Square II in Tigard, Oregon

CBRE announced the $26.5 million sale of Washington Square II, a multi-tenant open-air shopping center in Tigard, Oregon, adjacent to the larger Washington Square regional mall. SKB purchased the shopping center $26.5 million and plans for property-wide renovations.

Dino A. Christophilis and Daniel Tibeau of CBRE’s National Retail Partners in the Pacific Northwest represented the seller.

“Washington Square II attracted significant interest from investors, supported by strong retail fundamentals and the opportunity to reposition the asset to align with the adjacent Washington Square Mall. We were pleased to see a local, Portland-based investment group take the project as a new owner. The buyer’s vision for this property perfectly aligns with the long-term growth potential of the property,” said Christophilis, senior vice president at CBRE.

Located at 10250 SW Washington Square Rd, Washington Square II spans 86,636 square feet across eight acres and is currently 79% leased to a mix tenants including Red Robin, Visionworks, World Market, DXL Big + Tall and Panera Bread. The buyer plans to back-fill the former ULTA suite. The property benefits from its proximity to Washington Square Mall, Oregon’s top-performing mall, which attracts 9.7 million visitors annually and maintains 100% occupancy.