MEDFORD, Ore., Nov. 15, 2022 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the exclusive listing for sale of Jackson Creek Shopping Center, a 82,610-square-foot multi-tenant retail asset anchored by Albertsons in Medford, Oregon. The price is $6.5 million.
“Albertsons is one of the top grocers in Oregon, and the Jackson Creek location, which draws nearly 700,000 visits annually, is one of just a few grocery stores in Medford on the west side of Interstate 5,” said Bill Rose, IPA senior director. “As one of the few daily needs centers in the immediate trade area that is easily accessible from the freeway, Jackson Creek Shopping Center has a major advantage in the Medford-Jacksonville submarket.” Rose is representing the seller, Citivest Commercial Investments.
The property is located on Main Street, the central thoroughfare between Medford and Jacksonville, at the intersection of West Main and North Ross Lane, each of which carries over 12,000 vehicles per day. Nearby traffic generators include 12 schools, five hospitals, and employers such as Rosebud Media, the U.S. Postal Service, Naumes Inc. and Cardmoore Trucking. The estimated population within a three- and five-mile radius in 2021 was 61,739 and 116,729, respectively.
Opened in 2000 on seven-plus acres, the center is 93% occupied by tenants such as Oregon Internal Medicine, West Main Spirits, Ace Force One, El Arriero, Subway, UScellular, and Wells Fargo. Adam Lewis, vice president and regional manager is Marcus & Millichap’s broker of record in Oregon.
About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios.