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SKB Buying Uptown Shopping Center, Apartments

PORTLAND-ScanlanKemperBard principal Robert Scanlan tells GlobeSt.com the purchase price, "in excess of $20 million," includes the 72,000-sf shopping center, 47-apartment units and a "potentially developable pad" of about 55,000 sf. The acquisition is scheduled to close in June.

By Brian K. Miller | Updated on April 07, 2002

PORTLAND-ScanlanKemperBard is buying the Uptown Shopping Center in Northwest Portland. An upscale center at the corner of 23rd and West Burnside, Uptown is the locally based owner and developer’s first local acquisition and just its fifth retail property.

ScanlanKemperBard principal Robert Scanlan tells GlobeSt.com the purchase price, “in excess of $20 million,” includes the 72,000 sf shopping center, 47-apartment units and a “potentially developable pad” of about 55,000 sf. The acquisition is scheduled to close in June.

The seller is Federal Realty Investment Trust of Rockville, Md. Federal Realty purchased the property in 1997 for around $16 million.

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