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Trust Sells Three Centers for $38.8M

MANHATTAN BEACH, CA-Calling them non-core assets, the shopping center REIT Center Trust sells three properties--one in Oregon, one in Washington and another in California. Their combined square footage is 238,000 sf.

By Bob Howard | Updated on September 23, 2002

MANHATTAN BEACH, CA-Center Trust Inc. sold three open-air shopping centers that it described as non-core assets for a total of $38.8 million.

The properties sold were Ross Center, a 134,000-sf property in Clackamas, Ore. that is anchored by Ross Stores, Michaels and Pier 1 Imports; Vancouver Park Place, a 78,000-sf center in Vancouver, Wash. that is anchored by T.J. Maxx and Pier 1 Imports; and Rosedale Village Shopping Center, a 127,000-sf property in Bakersfield, Calif. that is anchored by a Save Mart regional grocery store chain, a Rite Aid drug store that is closed, and a Kmart.

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