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11/17/22
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Here’s news of a grocery-anchored retail center that’s been listed for sale in Oregon. The property is Jackson Creek Shopping Center, an 82.6k sf, multi-tenant retail asset anchored by Albertsons in Medford. The asking price is $6.5 mil ($79/sf).
The property is located on Main St, the central thoroughfare between Medford and Jacksonville, at the intersection of West Main and North Ross Lane, each of which carries over 12,000 vehicles per day. Nearby traffic generators include 12 schools, five hospitals, and employers such as Rosebud Media, the U.S. Postal Service, Naumes Inc. and Cardmoore Trucking. The estimated population within a three- and five-mile radius in 2021 was 61,739 and 116,729, respectively.
Opened in 2000 on seven-plus acres, the center is 93% occupied by tenants such as Oregon Internal Medicine, West Main Spirits, Ace Force One, El Arriero, Subway, UScellular, and Wells Fargo.
Bill Rose with Institutional Property Advisors is representing the seller, Citivest Commercial Investments. According to Rose, Albertsons is one of the top grocers in Oregon, and the Jackson Creek location, which draws nearly 700,000 visits annually, is one of just a few grocery stores in Medford on the west side of Interstate 5.
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