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Rouse sells Oregon power center


Rouse Properties has divested itself of an 821,564 center in Eugene, Oregon, whose tenants include Target, Cinemark, Cabela’s, Kohl’s, Hobby Lobby, and Ulta. The Shoppes at Gateway was purchased by Balboa Retail Partners for an undisclosed amount.

“The Shoppes at Gateway is a thriving shopping center that drew significant investor interest," said JLL EVP Geoff Tranchina, who represented Rouse in the deal. JLL will continue on as the managing agent of the property.

Located less than three miles from the University of Oregon, the former enclosed mall was redeveloped into an open-air format in 2015. It benefits from a half-mile of direct frontage along Interstate 5.

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