PORTLAND, Ore., Jan. 15, 2019 /PRNewswire/ — First Washington Realty, a national real estate investment and management company, announced the acquisition of Sunset Mall located in Portland, Oregon. The 113,721 square foot retail property is anchored by a top performing Safeway and is situated at the intersection of NW Cornell Road and NW Murray Road just off of Highway 26. The center serves the neighborhoods of Oak Hill, Bethany, Cedar Mill and West Slope and is just 1.5 miles from the Nike World Headquarters in Beaverton. Sunset Mall represents First Washington Realty’s second asset in the Portland market.
“Sunset Mall aligns with First Washington Realty’s strategy to own quality neighborhood centers in high barrier to entry markets such as Portland, OR. The center caters to the surrounding communities as well as major daytime employers. Area demographics and educational attainment levels are strong and speak to Safeway’s strong sales and recent renovation of their store. We are delighted to deepen our presence in the Portland market,” stated Alex Nyhan, Co-President and Managing Director at First Washington Realty. The seller was represented by Reza Investments Group out of Newport Beach, California.
First Washington Realty (FWR) is a fully integrated, national real estate investment and management firm that specializes in the ownership of convenience, necessity and experience-oriented retail real estate.
FWR currently owns interests in 96 shopping centers with a value of over $4.9 billion located in 22 states and the District of Columbia. Our centers contain approximately 12.9 million square feet with over 2,400 tenants. First Washington Realty is headquartered in Bethesda, MD with regional offices located in San Diego, Dallas and Kansas City.
First Washington Realty