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December 2005 - At a time that usually sees a slow-down in the investment real estate industry, Capital Pacific has maintained tempo with the closing of the Tanasbourne Town Center North property in Beaverton, Oregon. The property is part of a larger trophy-class shopping center, and a greater retail district just off of Highway 26. In what can only be described as a "clean" deal, Capital Pacific brought this property to the market, identified a buyer, led the escrow effort, and closed the deal well within everyone's timeline and without interruption.
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December 2005 - Capital Pacific has once again raised the bar in the downtown Portland market with the closing of the Annand Building. This property was a gem for an owner/user investor, considering its downtown proximity, access to light-rail, and on-site parking. An owner/user and first-time investor was identified, the transaction went into escrow one time, and closed at full list price.
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November 2005 - Capital Pacific has closed on the Powell Professional Center, a 100% leased 17,000 square foot multi-tenant office building located in Gresham, Oregon. The property was in escrow one time and closed at full asking price with a 1031 exchange buyer. Capital Pacific represented both buyer and seller in the transaction.
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November 2005 - By exporting Portland capital to a tertiary market, Capital Pacific has closed the sale of the PPI building in Yakima, Washington. Utilizing the most extensive qualified buyer database in the industry, Capital Pacific identified the right buyer for this hard-corner property; a buyer who had never purchased in Yakima previously.
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November 2005 - Capital Pacific is pleased to announce the sale of the Johnson Street Building in Portland's affluent NW business district. Capital Pacific identified the add-value opportunity in developing an adjacent parking lot as part of the sale. This allowed Capital Pacific to push pricing on behalf of the seller, while delivering more value in the transaction for the buyer.
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November 2005 - For the second time in a year Capital Pacific has sold the Meadowland Shopping Center, an Albertsons shadow-anchored retail center located in Portland, Oregon. After employing a strategic marketing plan that targeted qualified 1031 exchange investors, Capital Pacific generated numerous offers and closed the transaction at full asking price.
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October 2005 - Continuing a busy October, Capital Pacific is pleased to announce the closings of Andresen in Vancouver, Washington, and a newly constructed Rite Aid in Richland,Washington. Both properties were textbook examples utilizing our unmatched 1031 research and qualified client databases to match up the "hidden buyer" with a property that met their financial and timeline requirements.
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October 2005 - In a collaborative effort between the San Francisco and Portland offices, Capital Pacific is pleased to announce the sale of the Metropole building in San Jose, California, a single tenant office building leased to Knight Ridder. By working together on the assignment the property received extensive market penetration and was ultimately purchased by a 1031 exchange investor from Southern California.
Capital Pacific is also pleased to announce the sale of the Bi-Mart in Molalla, Oregon, a 31,250 square foot absolute NNN building. Capital Pacific located a 1031 exchange investor willing to close the sale within the seller’s 7-day window. The property closed at full price within the seller’s prescribed window.
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September 2005 - Capital Pacific has closed on OfficeMax Plaza, a 41,000 square foot retail property located in Roseburg, Oregon. The property includes OfficeMax, Mercy Medical and a Jack in the Box on a ground lease. The buyer was a local 1031 exchange investor. Capital Pacific represented both parties in the transaction.
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September 2005 - Capital Pacific, LLC has closed the sale of the 52,000 square foot Marineland Village in Kennewick, Washington. Capital Pacific represented both parties in the transaction, which closed prior to the contracted date and at full asking price. Marineland Village is the seventh retail property Capital Pacific has closed in the Tri-Cities area in the last 12 months.
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September 2005 - Capital Pacific is pleased to announce the sale of the 24,121 square foot Dallas Retail Center in Dallas, Oregon. Despite an ongoing condemnation dispute with the state, Capital Pacific was able to structure a deal that allowed the buyer to close the property within his 1031 exchange period and assume a conduit loan. Their unmatched ability in coordinating attorneys for the buyer, seller, lender and state, as well as traffic engineers and architects and having the transaction close within the 1031 exchange period is what separates Capital Pacific for other firms.
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September 2005 - Capital Pacific is pleased to announce the sale of the Shoppes of Midtown, a trophy 49,000 square foot Office Depot and Dollar Tree-anchored retail center located in Mobile, Alabama. With closing scheduled the week Hurricane Katrina hit, Capital Pacific structured an extension that allowed the conduit lender and buyer to re-inspect the property and ultimately close at the contract price.
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August 2005 - Capital Pacific is pleased to announce the sale of Riverway Plaza in Kelso, Washington in one of the more challenging transactions of 2005. Capital Pacific devised a broad marketing plan designed to reach a maximum number of potential buyers. Because the property is located in a secondary market with a bowling alley as the anchor tenant the property demanded maximum exposure to find a buyer willing to purchase the property. In addition, the buyer was required to assume the existing conduit loan with a loan-to-value of 50%. The property was purchased by a buyer from the Puget Sound area.
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August 2005 - Capital Pacific has closed on the sale of the Cornelius Retail Center, a brand new 7,400 square foot Starbuck’s-anchored retail center located in Cornelius, Oregon. At over $310 per square foot, Capital Pacific has again set the benchmark for pricing in Portland Metropolitan Area.
In one of the lowest cap rate transactions in Oregon in the last 10 years, Capital Pacific has sold the Auto Zone ground lease in McMinnville, Oregon, which recorded at a sub-6% cap rate. Capital Pacific generated numerous offers on the property, allowing the seller to choose the most qualified buyer with the highest probability of close.
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July 2005 - After overcoming several significant issues, Capital Pacific has closed the sale of the West Union Business Plaza, a Class-A office-flex project located in the Sunset Corridor. Despite the obstacles of: 50% equity requirement on a deal over $15M, debt that needed to be assumed, and being located in a known high-vacancy submarket with above market lease rates, Capital Pacific was able to structure a deal agreeable to both sides and move to closing on schedule to meet both the buyer's and seller's needs.
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July 2005 - As an example of "high transaction velocity", Capital Pacific has completed the sale of the Taco Del Mar/Starbucks properties in Walla Walla, Washington. This transaction took just 31 days, and was a team effort of brokers, marketing, and escrow mangers each playing a role and executing flawlessly. This property was presented to a targeted audience rather than to a blind mass marketing list, and the right investor was found through our own qualified multi-state database.
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June 2005 - After overcoming numerous hurdles associated with selling a property during redevelopment, Capital Pacific has closed on the Forest Grove Retail Center. Capital Pacific structured a complex sale involving a 1031 exchange buyer with limited time and a property that was in the middle of a total redevelopment.
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June 2005 - Capital Pacific is pleased to announce the sale of the Social Security Administration Building in Oregon City, Oregon. The property had been on the market the previous 6 months with another firm before Capital Pacific was awarded the exclusive listing agreement. After generating numerous offers, a buyer was selected and ultimately closed the sale at full price in 36 days.
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May 2005 - Capital Pacific is pleased to announce the sale of the Lakewood Towne Center, a brand new 172,883 square foot Safeway-anchored retail center located in Lakewood, Washington. As exclusive agents, Capital Pacific leveraged its long-standing relationships to locate the most motivated buyer, resulting in a cap rate that set the new benchmark for grocery-anchored shopping centers in the Pacific Northwest. The property was in escrow one time and closed in 40 days at the contracted price.
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April 2005 - Capital Pacific is extremely proud to announce the closing of two trophy assets in the Pacific Northwest.
Lake Place Shopping Center, in Lake Oswego, OR, property presented the challenge of being encumbered by a land lease less than 40 years in length. Capital Pacific identified a sophisticated buyer that understood ground leases, saw the potential upside, and had established lender relationships. Capital Pacific added value by initiating a dialogue with the existing ground owners and the new buyer, and initiating the lease negotiations with the largest tenant to lease additional space in the center.
The Gregory Building, located in the upscale Pearl District of downtown Portland, presented it's own market challenges being a mixed use structure with a condominium association relationship. Having recently sold the RiverPlace portfolio, Capital Pacific had significant experience with condominium associations and their associated pitfalls with investors and lenders. Prior to taking the Gregory Building to the market, we thoroughly analyzed all pertinent homeowners association documents and other due diligence reports in order to anticipate objections, and form solutions. We were able to summarize this information and present it concisely to our investor which facilitated and smooth closing within 90 days at the sellers initial asking price.
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April 2005 - Capital Pacific has closed on the Big 5 Sporting Goods located in Gilbert, Arizona. Because the property included additional retail space that was vacant during escrow, an earn-out was created that provided the investor with income until the spaces are leased. The property will provide the investor with steady returns for many years.
Capital Pacific is also pleased to announce the closing of the Albertson’s ground lease portion of the Clearview Shopping Center in Carson City, Nevada. After breaking the shopping center up into separate components, the Albertson’s ground lease was put into escrow one time and closed at full contracted price. Please contact Capital Pacific for information on the remaining available properties in the center.
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March 2005 - Capital Pacific continues to experience outstanding velocity with three recent closings. Capital Pacific completed the sale of the Plaza at Post Falls, a new 28,800 SF retail center located in Post Falls, Idaho. The property is anchored by Dollar Tree and benefits from its location next to a Super Wal-Mart. The deal went into escrow one time and closed at the contracted price. After overcoming numerous challenges during escrow, Capital Pacific closed the sale of the 10,700 SF Schendel Retail Center in Beaverton, Oregon. This rare Westside retail sale exemplifies what our vast experience brings to a transaction, as several potential deal-breaking issues arose in the course of the transaction. Capital Pacific worked through the issues and found common ground that ultimately led to a close at full contract price. Capital Pacific has also closed on the sale of the 5,400 SF Heritage Plaza in Albany, Oregon. Capital Pacific matched up a first-time investor with this property that should provide a stable income stream with excellent potential for future rent appreciation.
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March 2005 - Capital Pacific is pleased to have been awarded the listing agreements for two excellent investment opportunities. These listings demonstrate that our Clients see the value in what we bring to the table. Capital Pacific has been awarded the exclusive listing agreement on the Metrocenter Retail Portfolio in Phoenix, Arizona. The entire portfolio is valued at $67.8M, and consists of a collection of retail, restaurants, banks, and service tenants. The Portland and San Francisco offices are jointly working this assignment listing. Unlike the sale of a portfolio in it's entirety, Metrocenter has been split up into 20 distinct sales, allowing investors with different needs to shop the most suitable component. Capital Pacific is pleased to also announce the exclusive listing of the new Best Buy located next to Gateway Mall in Eugene, Oregon. After considering other brokerage firms, the selling entity made the decision to team with Capital Pacific due of our proven track record of accessing the most motivated capital seeking NNN investments.
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February 2005 - Capital Pacific is pleased to announce the sale of the Shoppes at Creswell, in Creswell, OR. This newly constructed retail center is shadow-anchored by Ray’s Food Place. As with most pre-sales, numerous challenges were overcome in this transaction, including several changes in the rent roll. Our vast experience with pre-sales was instrumental in getting this transaction closed.
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February 2005 - Capital Pacific has again achieved benchmark pricing on a trophy office/retail building in the heart of the Pearl District in Portland. By taking on an assignment where other had failed before, Capital Pacific solidified is position as the leading investment brokerage firm in the Pacific Northwest. By leveraging its relationships, Capital Pacific placed a 1031 exchange buyer from Seattle into the Pearl Building and delivered on its promises to the seller. The property was in escrow one time and closed at the contract price.
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January 2005 - Continuing our great start to 2005, we are pleased to announce the completion of 3 sales in the Pacific Northwest and Nevada.
We've completed the sale of the Wells Fargo Building in Reno Nevada, delivering a higher price than many in the industry thought possible. This is due in large part to our ability to find the right buyer and capitalize on local market forces beyond just price and CAP rate.
Capital Pacific has also closed on the Holland Avenue Retail Center in Spokane and a Yakima property, Washington. These properties shared many characteristics in terms of simple leases, safe properties for investors looking for solid returns, and similar demographic markets. By leveraging our network of relationships and our ability to deliver, we drove the market and delivered excellent results for our clients.
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January 2005 - For the second time in less than a year Capital Pacific has sold the Kmart in Coos Bay, Oregon. We often tell our clients that unsolicited offers rarely deliver the highest possible price and this property is a prime example. The twice previous owners of the property were willing to sell but not willing to exclusively list the property with Capital Pacific. As such, an unsolicited offer was accepted and the property sold about a year ago without a full marketing effort.
Eleven months later, we have closed on this property for the second time. However, this time the owners hired us exclusively to market their property. We were able to flex every bit of our marketing and relationship muscle to find the most motivated buyer. The result; almost $400,000 more than just a year earlier, a nice return for holding the asset for just shy of a year.
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January 2005 - Capital Pacific has started the year off by closing on the sale of Overlake Retail Center in Redmond, Washington. The buyer assumed a slightly higher rate on an existing loan recognizing the true value of the location and the tenant mix. With over 92,000 square feet of retail space just a block from the Microsoft campus, leased to large successful tenants, the Overlake Retail Center proved to be a lucrative investment.
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