**Lincoln Property and PCCP Acquire Grocery-Anchored Shopping Center Near Portland**
Lincoln Property Company, in partnership with PCCP, has acquired a 185,760-square-foot grocery-anchored shopping center located just outside of Portland, Oregon.
Situated at 10840 SE Oak Street in Milwaukie, Oregon, Milwaukie Marketplace is currently about 70% leased. The center features a mix of national and local retailers, including New Seasons Market, Ace Hardware, Planet Fitness, and Pietro’s Pizza. Lincoln Property Company will oversee property management and leasing for the asset.
The property recently underwent a multimillion-dollar tenant and capital improvement plan in conjunction with the opening of New Seasons Market.
“Prior to this acquisition, our Pacific Northwest team meticulously assessed the submarket and mix of retail tenants at this asset in particular,” said Travis Drilling, Executive Vice President of Investment and Operations for Lincoln’s Pacific Northwest Region. “We plan to fill the remaining vacancy, including the former Rite Aid space, to complement the legacy tenants and welcome important new additions to the center.”
