(Editor’s Note: Public records show the sale price was $42.3 million, or approximately $410 per square foot.)
LAKE OSWEGO, OREGON (January 31, 2023) — CPX announced another sale in its retail asset line, Beaverton Town Square, located at 11635-11763 SW Beaverton Hillsdale Hwy., Beaverton, OR, 97005. Purchased by Hyperion Realty Capital. This iconic Trader Joe’s-anchored property was represented by Kevin Adatto and Sean Tufts, both Managing Partners of CPX.
With a total of 103,000 SF, Beaverton Town Square is comprised of multiple buildings on nearly 12 acres. The property is located in the heart of the City of Beaverton, directly off Highway 217, with exposure to more than 200,000 cars per day. The Asset is shadow anchored by a strong-performing Fred Meyer and is less than a five-minute drive from Intel and Nike headquarters.
Owned by a private family for nearly 40 years, Beaverton Town Square is the most transit-oriented, grocery-anchored retail center on the west side of Beaverton. It benefits from strong commuter traffic, freeway access, and the nearby TriMet Beaverton Central MAX station that provides direct access to downtown Portland.
“Beaverton Town Square represents a generational opportunity to acquire an iconic retail center in the greater metro area,” said Kevin Adatto, CPX Managing Partner. “The family has been the steward of this coveted asset for decades, and the buyer intends to carry on this legacy. We appreciated the opportunity to help the family execute their goal in the disposition of such an important asset.”
Hyperion Realty Capital (formerly Portal Investment Management) owns and operates multiple shopping centers throughout the West Coast and has been one of the most active buyers in the Northwest over the last 12 months. “It was a pleasure completing another transaction with the Hyperion team,” said Sean Tufts, CPX Managing Partner. “In today’s market, a collaborative and creative approach is required by all sides.”
CPX is a Pacific Northwest-based commercial real estate investment firm with offices in Portland and Seattle, specializing in retail, commercial, multifamily, and manufactured housing. Our curated team of industry experts and seasoned brokers support and guide clients through the CRE investment process. Our long-standing relationships and innovative technology approach to sharing the latest, deepest market intel provide our clients with better outcomes.
