The original asking price for the property was $16.7 million. At the time of sale, it was 94% occupied by 25 tenants, including Nike, Eddie Bauer, Liz Claiborne, Jones New York, OshKosh B'Gosh and Famous Footwear. Broker David Caldwell, president of West Coast Investment Realty, handled the disposition for Seaside LLC. Len Davis of Savannah, GA-based Davis Investments represented the buyer, which has hired Portland-based Elliot & Associates to manage the property.

Caldwell says the center has successfully drawn visitors from the Portland/Vancouver metro area and other western Oregon communities, as well many from western Washington State attracted by the lack of a sales tax and easy public beach access. Additionally, the opening last year of the new Trendwest timeshare project has given Seaside a huge increase in visitors and a broader national exposure, increasing traffic to the outlet center.

Caldwell tells GlobeSt.com that Bryce and partners originally acquired the property from a company called Centers West owned by Bob Smith. Smith had taken the property through 90% of the necessary entitlements and, after running out of time and money, sold the pieces he had already acquired and the options for the rest to Bryce and his partners, who proceeded to acquire the remaining parcels and develop the property.