October 25, 2022
NORRIS & STEVENS, INC. BROKERS $6M RETAIL SALE IN ALBANY, OREGON
Perseverance, L.L.C. recently completed the $6,000,000 purchase of the Heritage Mall out parcel located at 1811 14th Avenue SE in Albany, Oregon.
This 20,074 SF retail building is part of the Heritage Mall in the heart of downtown Albany. Constructed in 1989, the single-story facility offers tenants frontage on SE Geary Street and includes 118 parking spaces. The Heritage Mall is the epicenter of Albany’s and the region’s retail hub. Located near both I-5 and Highway 20, it is surrounded by many restaurants, shops, movie theaters, the city library, and state offices.
Todd VanDomelen with Portland-based Norris & Stevens, Inc. represented the buyer, in the transaction. Kevin Adalto and Lance Suster with CPX, LLC represented the seller.
Norris & Stevens, Inc. is one of the largest locally-owned, full-service commercial real estate brokerage firms in Oregon and SW Washington. A member of the TCN Worldwide network, the firm was founded in 1966 and currently employs around 75 professionals in investment sales, leasing and property management for office, industrial, retail, land, and multi-family properties. The firm’s property management portfolio exceeds 5.9 million square feet of commercial space and 9,100 apartment units.