Target – Portland, Oregon
Portland’s First Small-Format Store
MAJ Commercial Real Estate and Commercial Realty Advisors is pleased to present the opportunity to acquire a single tenant net leased investment located in Portland, OR. The property is leased to Target Corporation on a 10-year initial term with +/-6.5 years remaining. This location is Portland, Oregon’s first “small format” Target Store, which refers to the store’s size of +/- 32,000 square feet. This flexible designs lets Target bring the best of the Bullseye into urban neighborhoods where a full-size Target wouldn’t fit, but still provide excellent shopping experiences for locals. Target is ideally located on Powell Blvd which has a daily traffic count of approximately +/-58,000 VPD and is a prime location for an Urban Target. This location also features a CVS Pharmacy. Centered between Grover Cleveland High School and Cleveland Track and Sports Field, Target is also surrounded by, McDonalds, Burgerville, Starbucks and much more.
PROPERTY ADDRESS: 3031 SE Powell Blvd., Portland, OR 97202
GUARANTOR: Target Corporation
OWNERSHIP TYPE: Fee Simple
TERM: 10-Years
EXTENDED TERMS: 6, 5-Year Options
LEASE TYPE: NNN
LANDLORD RESPONSIBLE: Roof and Structure Roof Warranty in place until March 19, 2038. Tenant to perform all routine maintenance to the Roof and HVAC.
RENT COMMENCEMENT DATE: November 13, 2018
INITIAL TERM EXPIRATION: January 31, 2029
For Additional Information:
Blake D. Federinko
360.823.5111
Blake@MAJCRE.com
Brandi M. Ho
360.823.5112
Brandi@MAJCRE.com
Michael A. Jenkins
360.823.5102
Mike@MAJCRE.com
Jeff Olson
503.595.7567
Jeff@CRA-NW.com