“Salem Shopping Center Sold for $13M by Hanley”

Hanley Investment Group Real Estate Advisors recently facilitated the sale of Keizer Village Shopping Center in Keizer, Oregon for $13 million. The 76,785-square-foot neighborhood shopping center is 99% occupied and spans over 5 acres.

Executive Vice President Kevin Fryman of Hanley Investment Group worked with ParaSell, Inc. to represent the seller, Cumberland Holdings LLC from Rolling Hills Estates, California. James Kim from Windermere Real Estate/Lane County represented the buyer – a private investor based in Eugene.

Fryman stated that they were able to secure a first-time shopping center buyer through a private 1031 exchange who closed escrow at an impressive rate of 97% of the asking price. Located at3830-3860 River Road North in Keizer,Village Shopping Center was originally built in1962 and underwent renovationsin2004.It featuresa mixof nationalandregional tenants such as Little Caesar’s Pizza,Metro by T-Mobile,and Subwayas well as local anchors Physiq FitnessandThe Thrift Store.

This successful transaction showcases Hanley Investment Group’s expertise and ability to connect buyers with quality investment opportunities while achieving top market value for their clients’ properties.

Steve Griffin

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