The former Sears building at Vancouver Mall has been sold to an Oregon investment group.
The 121,000-square-foot building, now anchored by Hobby Lobby, sold for $27.6 million to Allen Properties of Clackamas, Ore., according to a press release from CPX, a brokerage with offices in Seattle and Lake Oswego, Ore.
“This former Sears building is attached to the larger Vancouver Mall and was fully repositioned with multiple tenants on two levels,” CPX Managing Partner Sean Tufts said in the announcement. “The property is anchored by a highly successful Hobby Lobby along with Round 1 Entertainment, Sephora, and incoming tenants FIIT Nation and Gravity Coffee.”
CPX managing partners Sean Tufts and Kevin Adatto represented the seller, Rhino Holdings Vancouver, which is part of a Henderson, Nev., firm that specializes in “repositioning and redevelopment of underutilized, distressed or environmentally challenged properties,” the company said on its website. Rhino acquired the building after Sears closed in November 2018.