LAKE OSWEGO, OREGON (February 23, 2023) — CPX announced another sale in its retail asset line, Progress Square located at 8610-8878 SW Hall Blvd, Beaverton, OR 97223. Purchased by V.H.R. Co, LLC and sold by Progress Square Partners Limited Partnership, this rare offering was sold for $15.7M (approximately $376 per square foot) and represented by CPX Partner, Scott Frank.
The asset was initially purchased as a leasehold in 1992, but the sellers were able to acquire the underlying land in 2021. Progress Square boasts local and national tenants, over 60 percent of whom have resided in the asset for more than 20 years.
“We are proud to represent the sellers in the disposition of the very first asset they acquired more than 30 years ago. It was the start of an amazing company that has since acquired dozens of shopping centers with millions of square feet,” said CPX Partner Scott Frank.
Located in a strong commercial hub adjacent to Oregon’s largest mall, Washington Square, Progress Square benefits from strong commuter traffic and nearby freeway access providing direct access to downtown Portland.
CPX is a Pacific Northwest-based commercial real estate investment firm specializing in retail, multifamily, and manufactured housing. Our carefully 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.