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RETAIL NEWS
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Eugene Investor Spends $1.45 Mil on OR Retail Property

12/24/14

A local Eugene-based investor paid $1.45 mil for Q Plaza, a 22k sf ($66/sf) retail center in Springfield, OR. The property, located at the junction of Q St and Pioneer Pkwy, across from the Safeway-anchored Pioneer Plaza, was sold by Hudson Advisors, a division of Lone Star Funds.

Q Plaza features a mix of medical, fitness, and office tenants. Area retailers include Fred Meyer, Walgreens, Bank of America, and Fresenius Medical Clinic. Q Plaza was 73% leased at the time of sale.

The buyer plans to renovate the property and hold as a long term investment. CBRE’s Alex Martinac represented the seller in the deal.

Q Plaza is the third shopping center transaction in the Springfield submarket in the last 12 months. The other two are Gateway Mall (Rouse Properties) and Pioneer Plaza (Philips Edison).





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