- Located in main retail corridor with 7.9M square feet of retail space within 3 miles.
- Approximately 316,993 residents within a 5-mile radius.
- Zoned RCC in Clackamas County with various development opportunities such as retail, multi-family and office.
Pharma Property Group is pleased to exclusively market for sale a single tenant retail property located in Portland, Oregon. The rent is guaranteed by Walgreens for the remaining 5 years of the lease term and provides a secure income stream on a true absolute NNN basis with no landlord responsibilities whatsoever. Walgreens is currently subleasing the building to Food Depot.
This corner location is well positioned just southwest of Clackamas Town Center and benefits from the 9 Million annual visits to and from the 1.4 Million square foot mall. Subject property is located just off highway 213 (SE 82nd Street) which is the main North/South retail corridor and arterial traveling North from Clackamas into Southeast Portland.
There a strong national retail presence in the immediate area with tenants including, Target, Costco, Hobby Lobby, Dick’s Sporting Goods, McDonald’s Chick-fil-A along with numerous others. The population in the 3-mile radius has grown rapidly experiencing a nearly 17% increase over the past decade with more than 128,071 residents and is expected to expand another 7% over the next 5 years.
Current zoning at this site allows for a mix of uses including commercial, retail, multi-family, office and hotel among others providing for a variety of potential redevelopment opportunities.