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Rhino Investments Spends $24.6 Mil on OR Retail Center

7/05/24

Rhino Investments, out of Las Vegas, purchased Grants Pass Shopping Center, a 277.4k sf retail center in Grants Pass, OR. The property was sold by LNR Partners in a $24.65 mil ($89/sf) transaction.

Located at 820-1160 NE D Street in Grants Pass, the property was 81% leased at the time of sale. The shopping center recently added several national tenants including ULTA and TJ Maxx, and renewed 75k sf in leases. Other national tenants include Ross, Petco, Staples, Joann and Rite Aid.

CBREs Dino A. Christophilis and Daniel Tibeau represented the seller in the deal. According to Christophilis, they received interest from over 200 possible buyers.

Grants Pass Shopping Center is the only large-format shopping center in the region and presents opportunities for additional national retailers to serve the local community.




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