Markley, a Portland-based owner of retail and industrial properties in the Pacific Northwest, acquired the property through his company, Markley Enterprises. The seller is Northwest Real Estate Development Fund I, which once local source described as "a group of investors led by Louis Scherzer."
Mountain View anchor tenants include Juan Colorado's restaurant, Oregon Hot Springs Spas, Edward Jones and Domino's Pizza, but its location was the real attraction. At 14415 SE Mill Plain Blvd., the Mountain View Village sits adjacent a 56.8-acre Evergreen Airpark, which Opus Northwest is preparing to redevelop into a mix of uses.
Brokers Bill Burton and Andrew Harnish of Cushman &Wakefield represented Markley Enterprises. Lou Elliott of Commercial Realty Advisors represented Northwest Real Estate Development Fund I. Burton tells GlobeSt.com that the center was not on the market. "There's not a lot out there on the market but people are still digging them up," says Burton, who rooted out the Mountain View opportunity at Markley's behest.
The Greater Vancouver area's overall retail vacancy rate was 6% as of the end of September despite a tremendous amount of new construction in recent years, according to the latest report from Norris Beggs & Simpson, a Portland-based real estate services firm.
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