Summary : Portland commercial real estate investors continue to expand their horizons outside of Oregon as they cycle new acquisitions into their portfolios.
Schnitzer Properties, headed by Jordan Schnitzer, bought Chandler Pavilions in the Phoenix suburb of Chandler. Michael Corbitt, Schnitzer Properties senior vice president, noted the company plans to add more retail centers within the Phoenix metro. “We are well positioned for continued growth and expansion with new acquisitions in the office, retail or industrial sectors and in existing and new markets.”
Portland commercial real estate investors continue to expand their horizons outside of Oregon as they cycle new acquisitions into their portfolios.Schnitzer Properties, headed by Jordan Schnitzer, bought Chandler Pavilions in the Phoenix suburb of Chandler. The approximately 163,000-square-foot property covers about 18 acres along Interstate 10 and brings the firm’s retail divisions up to two dozen properties across almost 3 million square feet.”It’s a truly exceptional acquisition with undeniable appeal as a retail destination,” Schnitzer said in a late July statement with the sale announcement.The buyer is unlikely to stop there. Michael Corbitt, Schnitzer Properties senior vice president, noted the company plans to add more retail centers within the Phoenix metro.Meanwhile, Portland-based Menashe Properties said it picked up Stanford Place III in Denver with a 370,000-square-foot office building on a 6 1/2-acre property. That purchase brings Menashe Properties’ Colorado holdings to about 1 million square feet, since it bought the Aurora Marketplace campus in southeast Denver years ago.”Our team’s ability to move swiftly and close without financing certainly helped move this deal over the finish line,” CEO Jordan Menashe said in a statement. “We are well positioned for continued growth and expansion with new acquisitions in the office, retail or industrial sectors and in existing and new markets.”
