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6/28/17
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Fourth Plain Center, a 117.1k sf, value-add, multi-tenant shopping center in Vancouver, WA, recently sold for $21.5 mil ($184/sf). The property is situated in on 7.96 acres at 2903 NE Andresen Road, 2913 NE 72nd Drive and 2904 NE Burton Road in northeast Vancouver.
Fourth Plain Center comprises four buildings that were most recently renovated in 2006. The center is leased to a mix of professional services, health and fitness, restaurant and retail tenants, including 24-Hour Fitness, Walgreens, Rainwater Insurance, Saigon Restaurant, Children’s Village Day Care, Zenaptic Chiropractic and Sunrise Salon.
Fourth Plain Center is visible to approximately 42,241 vehicles per day and is near I-5, which runs into Portland. The property is proximate to some of Vancouver’s most affluent neighborhoods, and more than 112,805 residents earning an average annual household income of $62,740 live within three miles of the center.
Nick Kassab with HFF represented the seller, 4th Plain Center LLC.
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