Dealmaker: Institutional Property Advisors Brokers Albertsons-Anchored Retail Center Sale in Oregon

(Jackson Creek Center)

Institutional Property Advisors, Calabasas, Calif., sold Jackson Creek Center, a 84,610-square-foot shopping center in Medford, Ore., for $6.1 million.

“Jackson Creek is one of the few daily needs retail centers in the immediate trade area and the Jackson Creek Albertson’s is one of the immediate market’s top-ranked locations,” said Bill Rose, IPA Senior Director. Rose represented seller Citivest Commercial Investments, Newport Beach, Calif., and procured the local private real estate investor.

Built on seven acres in 2000, the center sits at the intersection of West Main Street and North Ross Lane, each of which carries more than 12,000 vehicles per day. Nearby traffic generators include schools, hospitals and employers such as Rosebud Media, the U.S. Postal Service and Cardmoore Trucking. More than 115,000 people live within a five-mile radius.

Jackson Creek Center was 93% occupied at closing by tenants including Oregon Internal Medicine, West Main Spirits, US Cellular and Wells Fargo.