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11/15/18
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Asana Partners purchased Oswego Village, a 102.8k sf, Whole Foods 365-anchored retail center in the affluent suburban Portland community of Lake Oswego, OR. The asset was acquired free and clear of debt.
In addition to the Whole Foods 365 anchor, the 84.5%-leased Oswego Village is anchored by Ace Hardware and home to Tuesday Morning, North Lake Physical Therapy, Banfield Pet Hospital, Great Clips, Subway and more. The five-building center has limited competition in the area with only five other grocers in the submarket, and the nearest accessible hardware store is more than five miles away.
Situated on 7.7 acres at 11 State St, the center is positioned along State Highway 43, the main thoroughfare that connects downtown Portland to the southern suburbs and exposing the center to more than 31,800 vehicles per day. Oswego Village is in Lake Oswego, an affluent Portland suburb with approximately 40,000 residents and an average annual household income of $158,761.
Nick Kassab and Bryan Ley with HFF represented the institutional seller in the deal. Asana Partners plans to make significant enhancements to the property, including aesthetic upgrades and attracting retailers that complement and connect with the surrounding community.
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