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June 25, 2024
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Balboa Retail Partners Goes Shopping in Hillsboro, OR


Balboa Retail Partners closed on a retail buy in Oregon, picking up The Streets of Tanasbourne, a 371.8k sf outdoor shopping mall located at 19350 NW Emma Way in Hillsboro. The price was not given out.

Currently 93% leased, The Streets of Tanasbourne sits on a 17.7-acre site with a free-standing, four-level structured parking garage, and is anchored by Macy’s, H&M, REI and Sephora. The property is home to a dynamic mix of national and regional retailers providing an irreplaceable, open-air experience for surrounding residents and employees looking for dining, shopping and services.

Nicholas Bicardo, Nick Kucha and Cheyne Bloch with Newmark were involved in brokering the transaction.

“As seen with several lifestyle centers that we have recently marketed and sold on the West
Coast, Streets of Tanasbourne attracted a tremendous amount of capital,” said Bicardo. “Streets
of Tanasbourne is a top performing asset in the Portland region and offers the buyer a great mix
of stable income with strong upside in the anchor and inline suites.”

Hillsboro is Washington County’s largest city, with a population exceeding 101,000, and is among the oldest communities in the state. With the emergence of the technology sector, as part of the region’s “Silicon Forest,” Hillsboro is home to some of technology’s biggest and brightest names.

According to Newmark Research, retail was the only sector to see an annual increase in U.S.
investment sales year-over-year with gateway markets leading the retail rankings, particularly LA Metro. Investment sales across all property sectors declined 15% year-over-year at the end of
2022, while retail sales increased by 4% to $85.7 bil, the highest annual total since 2018.

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