Hanley Investment Group Arranges Sale of 76,785 SF Neighborhood Shopping Center in Salem, Oregon Metro Area, for $13 Million

KEIZER, Ore. - Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm arranged the sale of Keizer Village Shopping Center, a 76,785-square-foot, 99%-occupied neighborhood shopping center in Keizer, Oregon, anchored by Physiq Fitness and The Thrift Store. The sale price was $13 million.

Hanley Investment Group's Executive Vice President Kevin Fryman, in association with ParaSell, Inc., represented the seller, Cumberland Holdings, LLC, in Rolling Hills Estates, California. The buyer, a private investor from Eugene, Oregon, was represented by James Kim of Windermere Real Estate/Lane County, also from Eugene.

"We procured a private 1031 exchange investor who was a first-time shopping center buyer and closed escrow at 97% of the asking price," said Fryman. "We achieved an aggressive cap rate for a shopping center with anchors Physiq Fitness (with five locations) and The Thrift Store (one location). Physiq Fitness is a 10-time winner of 'Best Gym in the Mid-Valley.'"

Keizer Village Shopping Center, located at 3830-3860 River Road North in Keizer, spans 5.18 acres. Built in 1962 and renovated in 2004, the center hosts a mix of national and regional tenants, including Little Caesars Pizza, Metro by T-Mobile, Subway, and US Market, along with local anchors Physiq Fitness and The Thrift Store.

"Keizer Village Shopping Center is a prime example of a well-located, multi-tenant net-lease retail investment that continues to attract retail investors," said Fryman. "The center boasts 100% internet-resistant tenants, including fitness, restaurant, and service tenants, which are highly sought after in today's market."

The shopping center has long-term tenants with historically high occupancy. "Tenants representing 54% of the income have been in the center for at least 10 years," Fryman added. "This stability was a key factor for investors looking for reliable income streams."

Keizer Village Shopping Center features an ideal "L-shaped" design with six points of ingress/egress and prominent signage along Cherry Avenue and River Road. The center benefits from limited retail competition and a low vacancy rate of 2.4% in the submarket, according to Fryman.

"Located on the main retail thoroughfare of River Road, which connects Keizer to downtown Salem, the shopping center is surrounded by national anchor tenants such as Bi-Mart, Fred Meyer, Safeway, and Winco," said Fryman. "This prime location, combined with a highly dense population of 192,000 people with an average household income of $79,000 within a five-mile radius, makes Keizer Village Shopping Center an attractive investment."

Commenting on the current retail investment market, Fryman added, "We are seeing a notable uptick in buyer activity. This surge is largely driven by the recent decline in interest rates, which are expected to continue their downward trend through 2024 and into 2025."

About Hanley Investment Group

Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with over an $11 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients' needs first set us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties.

For more information, visit www.hanleyinvestment.com [http://www.hanleyinvestment.com/].

Media Contact
Company Name: Hanley Investment Group Real Estate Advisors
Contact Person: Kevin Fryman, Executive Vice President
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=hanley-investment-group-arranges-sale-of-76785-sf-neighborhood-shopping-center-in-salem-oregon-metro-area-for-13-million]
Phone: 949.585.7674
Address:3500 East Coast Highway, Suite 100
City: Corona del Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/



This release was published on openPR.