21st & Clinton
BEST-IN-CLASS 100% LEASED RETAIL CENTER IN HIGH INCOME NEIGHBORHOOD
Marketing description
The Subject Property is a creatively designed, fully-occupied retail asset featuring Class A construction completed in 2005 and is leased to a strong mix of service-oriented tenants on NNN leases. The Property boasts exceptional tenant stability, with 73% of the GLA in place since 2006 and a recent 10-year renewal by Xenana Spa & Wellness. Additional renewals with 82 Acres, Blink Optometry, & American Pacific Mortgage have been inked since October 2025, demonstrating continued stability. Located in a highly walkable and bike-friendly Portland neighborhood (Walk Score: 95, Bike Score: 99), the Property is surrounded by restaurants, retail, parks, and community hubs. Strong local demographics include average household incomes exceeding $150,000 within a half-mile, and the area continues to densify with over 3,700 multifamily units delivered or underway since 2022 (2-mile radius).
Investment highlights
• 2 buildings, fully occupied by service-oriented tenants on NNN leases.
• Class A attractive 2005 construction.
• Tenants representing 73% of the GLA have occupied the Property since at least 2006.
• Xenana Spa & Wellness, 82 Acres, Blink Optometry & American Pacific Mortgage all recently executed extensions, contributing to a 3.9-year WALT.
• Proximity to many amenities, including restaurants, retail, coffee, and community centers with nearby parks with a high walk score of 95 and a bike score of 99.
• Average household incomes exceed $150,000 within a half mile of the Property.
• Over 3,700 multifamily units have been built since 2022 or are currently in the process of being developed (2-mile radius).
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