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December 2004 - Capital Pacific is excited and proud to announce that we are now in San Francisco, having partnered with the top retail brokerage team in the Bay Area, headed by Chris Kostancecki. Chris’ team was the leading retail brokerage team within the entire Marcus & Millichap organization and brings vast relationship and deal experience to Capital Pacific. Chris' team specializes in the sale of open air retail projects in the Western states and additionally markets single tenant properties on a national scale. Through his actions and track-record, it was obvious that Chris, his partners Zeb Ripple and Chris Peters and his entire staff shared the same demand for excellence as the Portland team.
By joining forces, we have assembled the top retail teams in each of their respective markets, thereby providing the market with greater access and greater resources. In an industry that runs on performance and relationships, the joining of the two top teams not only doubles our ability to serve our clients, but increases that network and reach that drives the market far beyond anyone else in this space.
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November 2004 - Capital Pacific is pleased to announce the sale of Pier 1 Imports in Olympia, Washington. Because there was an existing loan on the property that had to be assumed, Capital Pacific developed a marketing plan targeting NNN buyers looking for an above-market cap rate property with low leverage. Using its proprietary multi-state database Capital Pacific located a 1031 exchange buyer from California.
Delivering benchmark pricing is a major reason property owners work with Capital Pacific to sell their properties. The sale of the Washington Mutual Bank in Richland, Washington is a perfect example of this. By delivering a price of $361 per square foot, Capital Pacific has again set the high water mark in the Tri-Cities area.
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November 2004 - Does your broker add value? Capital Pacific has just closed the Fairhaven Food Pavilion located in Bellingham, Washington.
Capital Pacific structured a 20-year leaseback with Brown & Cole, a well-established Northwest grocer. Prior to the Seller entering into a purchase contract, a regional tenant submitted a proposal to lease a substantial portion of an undeveloped pad site. The buyer was eager for a quick close to capitalize on historically low interest rates and the seller wanted to include the new building as part of the sale. Capital Pacific coordinated a lease guarantee and a construction holdback that satisfied the Buyer, its lender and the Seller. The result was an additional million dollars in price for the Seller and a brand new credit lease for the Buyer. Capital Pacific’s experience created a win-win situation for both Buyer and Seller.
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November 2004 - Capital Pacific is pleased to announce the sale of the Moses Lake Retail Center, a 62,408 SF Food Pavilion-anchored retail center located in Moses Lake, Washington. As exclusive agents, Capital Pacific devised a thorough marketing plan targeting the most high probability buyers. Thorough examination of due diligence material uncovered several potential problems that were ultimately resolved prior to the deal going into escrow. As a result, the property was in escrow only one time and the sale closed at the original contract price.
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November 2004 - Capital Pacific is proud to announce the sale of the Tuscany Professional Plaza, located in Pocatello, Idaho. This newly constructed 15,000 square foot office building is leased to long-term tenants that include the Veterans Administration and American Family Insurance.
Capital Pacific has successfully closed the sale of the Sprague & Hatch Office Building, located in Spokane, Washington. McLeodUSA, a major telecommunications company, anchors this 40,000 sq ft office building. As exclusive agents, Capital Pacific added substantial value to the ownership by addressing potential pitfalls with the property and delivering creative solutions to recognize the property’s full value. The end result was a sale that closed at the contract price.
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October 2004 - Demonstrating its ability to import capital into secondary markets, Capital Pacific has sold the Dollar Tree in Mountain Home, Idaho at a cap rate usually found in much larger capital centers. As exclusive listing agents, Capital Pacific generated a focused marketing plan that targeted markets where buyers are used to paying cap rates in the low 7% range. This targeted marketing effort resulted in an all-cash 1031 exchange buyer from California. By hiring Capital Pacific the seller of the property netted over $100,000 more than his original asking price.
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October 2004 - Capital Pacific is pleased to announce the sale of the Ontario Retail Center, a 5,600 square foot 2-tenant retail center located in Ontario, Oregon. Using its multi-state proprietary database, Capital Pacific generated significant interest in the property and eventually sold the property to a 1031 exchange buyer from California.
After overcoming numerous setbacks during the construction of the Boise Retail Center, the property developer’s efforts were rewarded with benchmark pricing after Capital Pacific located a 1031 exchange investor that closed on the 4,300 SF retail center at over $230 per square foot.
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October 2004 - Capital Pacific has successfully completed the sale of a portfolio of nine H&R Block properties located throughout the Pacific NW. As exclusive listing agents, Capital Pacific generated multiple offers, entered escrow one time and closed the transaction with a regional 1031 exchange investor.
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October 2004 - Hired as exclusive agents after others had failed, Capital Pacific is proud to announce the sale of the Eugene Industrial Park, a 123,000 SF multi-tenant net-leased industrial park located in Eugene, Oregon. The transaction went under contract one time and closed with a regional 1031 exchange buyer. Midway through the transaction Capital Pacific negotiated a deal that allowed the buyer to acquire an additional building on the property, thereby creating upside potential for the buyer and an additional $2M in sales proceeds for the seller.
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September 2004 - In its continuing leadership in tertiary markets, Capital Pacific has closed on the sale of Walgreen’s in Redmond, Oregon. As exclusive agents, Capital Pacific structured a pre-sale that capitalized on the historically low cap rates while providing the developer certainty of closure at benchmark pricing.
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September, 2004 - Capital Pacific is pleased to announce the sale of the Stadium Way Retail Center in Pullman, Washington. The property was recently converted from a freestanding grocery into a 25,700 square multi-tenant retail center. As exclusive listing agents, Capital Pacific LLC performed an extensive review of the property’s leases and historical operating statements that uncovered significant additional income. This additional income, combined with a new lease signed during the marketing phase, added nearly $1M of value to the property.
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September 2004 - In a good example of a win-win transaction, Capital Pacific has facilitated the sale of the Bend River Mall and Sportsman's Warehouse/Levitz in Silverdale.
Bend River Mall is anchored by Bon Marche and Sears and had 11 offers before being sold to a buyer in California. The 1031 exchange was completed with the purchase of a Sportsman's Warehouse/Levitz building in Silverdale. Originally a Home Base, the building was redeveloped for two tenants, and marketed as 1031 exchange.
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September, 2004 - Capital Pacific announces the sale of the Blockbuster Video in Forest Grove, Oregon. We are happy to have been able to match up a local 1031 exchange buyer with this attractive 7,500 square foot absolute NNN leased investment.
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September, 2004 - There is an exciting Office/Retail Mixed Use opportunity in the Pearl district of Portland. The Pearl building is offered at below replacement cost in a dynamic growth market area. Proximate to Portland Streetcar access and offering ground floor retail space, 4 floors of office leased to a single master tenant through 2010, and two floors of flexible muli-tenant space, this building offer rare options for the highly sought after Pearl district.
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August, 2004 - The sale of the Hollywood Video Retail Center in Kennewick has closed, and Capital Pacific has once again set benchmark pricing in a secondary market. This NNN property was exclusively listed, and was in escrow only once.
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July, 2004 - Capital Pacific is pleased to announce the sale of the 40,515 square foot Signal Call Center located in Albany, Oregon. Within a week of accepting the assignment, the property was in escrow with a regional exchange buyer. Capital Pacific overcame several challenges that arose in the transaction to close in 45 days at full asking price.
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July, 2004 - Capital Pacific is pleased to announce the sale of the Cedar Green Retail Center in Lebanon, Oregon. Capital Pacific represented both buyer and seller in the sale of this 15,846 square foot Safeway shadow anchored multi-tenant retail center. After a major tenant vacated during escrow, Capital Pacific structured a settlement that allowed the deal to close in time.
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June, 2004 - Capital Pacific is proud to announce the sale of Hollywood Video in Medford, Oregon. This rare and unique NNN leased property has just over 6,000 rentable square feet and is in a great location. Capital Pacific was able to successfully pair up this property with a regional 1031 exchange Buyer. Another successful closing!
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June, 2004 - Capital Pacific announces the sale of Airway Heights Retail Center. Tenants include Movie Gallery and Dominos. A 1031 buyer was identified that closed at full price. Capital Pacific helped structure a post closing agreement with holdbacks for base rent, cam, tenant improvement cost and leasing commission on the remaining available space.
Capital Pacific has closed the Wendy's in Kennewick Washington. The marketing effort generated multiple offers and closed at the list price in less than 45 days.
Capital Pacific has sold the Blockbuster Video in Lacey Washington. The property sold at full price with multiple offers in a matter of weeks.
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June, 2004 - Capital Pacific completes the complex sale of the River Place portfolio. Many issues came up during the disposition of this "condominiumized" asset, which challenged the brokers to come up with creative ways to market and consummate a sale of this irreplaceable waterfront property. Ultimately, the seller was able to net more than anticipated in the beginning, and Capital Pacific and its staff rose to each challenge - bettering the process for all involved.
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May, 2004 - No other firm sells more anchored and shadow anchored retail centers in the Pacific Northwest than Capital Pacific, LLC. Capital Pacific has recently sold Farmington Village, a grocery anchored neighborhood center in Aloha/Beaverton Oregon. Michael Horwitz represented an institutional owner who sold to a regional investor in a 1031 exchange (sourced with Capital Pacific?s unique database). The buyer saw the opportunity to add value through aesthetic enhancement, and capitalize upon the strength of two national shadow anchor tenants (Albertson?s and Bi-Mart).
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April, 2004 - Capital Pacific is pleased to announce that they have moved their offices to The Capital Pacific Building they recently purchased. The new address is: 4260 SW Galewood Street Suite A Lake Oswego, Oregon 97035. All phone numbers and e-mail addresses stay the same.
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April, 2004 - Capital Pacific announces the sale of Fred Meyer Plaza in Bremerton, Washington. Capital Pacific matched this multi-tenant Fred Meyer shadow anchored retail center with a regional 1031 investor from Oregon that was working on an upleg from the sale of a center located in Beaverton, Oregon, also sold by Capital Pacific.
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March, 2004 - The sum of its parts are greater than the whole. Capital Pacific announces the sale of the RiverPlace Harborside restaurant. This asset was part of the unique downtown waterfront project of the same name. Historical store sales and favorable market conditions gave Capital Pacific the opportunity to add value by selling the property as a single-tenant NNN opportunity separating it from the retail and office components and increasing the probability of a successful closing.
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March, 2004 - By employing a creative marketing strategy, Capital Pacific was able to execute the sale of the RiverPlace Office Building, the first of a three-tiered disposition plan surrounding the recent portfolio purchase of the RiverPlace project. Capital Pacific structured a sale of this unique condominium-ized downtown waterfront asset to a local 1031 exchange investor. The complex sale required a complete and thorough understanding of a property owned for just months by the prior owner.
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March, 2004 - Capital Pacific has closed Cortaro Retail. The property is a newly constructed Pad to a Super-Wal-Mart & Kohl's. A targeted marketing plan generated multiple offers in a short period of time. A regional 1031 investor was awarded the project and closed at the contracted price prior to 100% occupancy. CP helped structure a post closing agreement that addressed rent guarantees, CAM's and TI allowance.
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March, 2004 - Capital Pacific announces the sale of Barrow's Crossing in Tigard, OR. This newer Albertson's shadow-anchored center sale involved the assumption of an above-market interest rate loan with a loan to value ratio of approximately 50%. Capital Pacific structured a deal that closed in 45 days.
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March, 2004 - Capital Pacific announces the company has purchased an office building in Lake Oswego, OR to serve as the company's headquarters. The forthcoming address change will become effective in mid-April 2004. Please watch this website and upcoming mailers for more information.
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March, 2004 - Capital Pacific arranged the sale of the Kmart in Coos Bay, Oregon to a regional 1031 exchange investor. Kmart recently renewed its lease for 5 years. In light of Kmart's recent financial woes, our client recognized the opportunity to buy a 15-acre parcel at a low price per foot.
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March, 2004 - Capital Pacific represented both parties in the pre-sale disposition of a newly constructed Walgreens in Sherwood, OR. Employing past experience on other Walgreens pre-sale transactions, Capital Pacific facilitated identifying the appropriate lender that could work through construction lien releases and punch list items that survived closing. As part of the transaction the investor also purchased the adjacent Davita building on a long-term lease. This building is currently under construction, and required Seller financing until a permanent construction loan could be perfected.
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February, 2004 - Capital Pacific arranged the sale of Bed Bath & Beyond/REI/Guitar Center located within the Southcenter retail district in Tukwila, Washington. By arranging the sale, Capital Pacific was able to generate a significant return to the seller on his original acquisition, while at the same time providing an investment opportunity for the buyer that was well suited to their long-term objectives. The $17,125,000 sale involved the assumption of an existing loan of just $9,720,000.
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February, 2004 - Capital Pacific successfully closed Liberty Lake Office Center. The newly constructed 2-story, 27,000 SF office building sold for $2,878,450. An aggressive marketing effort identified a regional investor that was aggressive in this product type and familiar with this sub-market. At closing the property was 72% occupied and sold with no rent guarantee or leasing commissions.
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February, 2004 - Capital Pacific announces the sale of a free standing Arby's restaurant located in Eastern Oregon. Upon execution of a marketing agreement, Capital Pacific was able to generate multiple qualified offers from 1031 exchange Buyers. The asset sold at full price to an investor that works exclusively with Capital Pacific.
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February, 2004 - Capital Pacific recently sold a pad building at Meadowland Shopping Center located on the Eastside of Portland. Tenants include Radio Shack, Figaro's Pizza and others.
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January, 2004 - Capital Pacific sold the Cummins NW industrial facility located along I-5 in Eugene, OR. The purchase price was $5,130,000 - and the buyer had to assume the existing loan with an approximate loan balance of $2.8M. Cummins had previously signed a long-term lease on the two building facility. Capital Pacific identified a regional investor that was seeking to diversify his estate to include real estate.
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January, 2004 - Capital Pacific closed Gerber Garden Place located in Lake Oswego, Oregon. During the transaction an EIFs issue was discovered that required Capital Pacific to facilitate solutions that addressed and resolved the needs of both buyer and seller.
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January, 2004 - Capital Pacific announces the sale of the Pendleton Retail Center, a 12,750 square foot retail center located in Pendleton, Oregon. Capital Pacific generated several well-qualified offers and closed on the property at the asking price.
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January, 2004 - Capital Pacific successfully closed for $10,200,000 a Garden Ridge facility located in Houston, TX. The seller was a client Capital Pacific had exclusively represented previously in the disposition of several Blockbuster Video NNN transactions throughout Oregon and Washington.
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