Heritage Plaza Shops | Fully-Leased Investment Opportunity

Highlights:

• Nearby High-Performing National Retailers: Walmart and Safeway
• ±220’ of Frontage on NE Fourth Plain Blvd (Traffic Count: ±12.7k)
• 2 Access Points: One from NE Fourth Plain Blvd & One from NE 156th Ave.
• Constructed in 2023
• All Cash or Cash to New Financing
• Zoning: Community Commercial (CC) - View Online

Description:

Stabilized Retail Center Investment Opportunity
Capacity Commercial Group is pleased to exclusively present the unique opportunity to acquire a premier multi-tenant commercial site in Vancouver, Washington.

Stabilized Retail Center in Growth District. Heritage Plaza Shops is a fully-leased, recently-built retail center in Vancouver’s booming northeast district. The property is situated along NE Fourth Plain Blvd, a rapidly transforming retail corridor anchored by two high-performing national retailers: Walmart and Safeway. The area is also attracting institutional capital and major employers, such as the 682,000-square-foot speculative industrial building leased entirely to Grocery Outlet Holding Corp.

Extended Leases with High WALT & Staggered Lease Expirations. Current ownership has successfully negotiated new and improved leases on the property. The investment now features 8.83 years of remaining weighted average lease term (WALT; calculated June 1, 2025). Leases expire in different years but no earlier than 2030, creating stable cash flow for years ahead.

Annual Rent Escalations Enable Key Value Drivers. All leases feature 3.00% annual rent escalations, generating a superior hedge against inflation versus investment alternatives. The compounding effect of annual rent growth creates value and future exit flexibility.

Superior Population Growth. The surrounding area exceeds 2.0% annual population growth and is projected to grow ±1.60% through 2029, over 400% greater than the national average of 0.40%.

No State Income Tax. Washington does not have a state income tax, providing a huge competitive advantage for investors. Major employers such as ZoomInfo and PeaceHealth benefit from increased bottom-line performance due to zero income tax.

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