Real estate and investment firm JLL is announcing the sale of the Shoppes at Gateway in Springfield.
Geoff Tranchina is Executive Vice President of JLL, which brokered the deal. He says the Shoppes at Gateway had lots of features that appealed to the buyers.
“Clearly the location along the I-5 Freeway, and the visibility there," says Tranchina.
"With the University of Oregon, and the diverse and broad-based demographic growth that we’re seeing in the Willamette Valley. They really thought that this was an excellent, long-term investment. And we’re really happy to get the transaction done.”
The sale was made on behalf of Rouse Properties. An affiliate of Balboa Retail Partners purchased the 821,000-square foot shopping center.
According to an industry source not directly involved with the sale, the property – anchored by Cabela’s, Target, Cinemark, and Sears -- sold for at least $105 million.