Rhino Investments Group, a Las Vegas-based commercial real estate firm, has acquired Lancaster Marketplace, a retail center in Salem, Oregon.
Spanning a location at the busy intersection of Lancaster Drive and Highway 22, Lancaster Marketplace is anchored by WinCo Foods, Coastal Farm & Ranch and Sportsman’s Warehouse. The company is working to lease a former Dollar Tree location that has over 28,000 square feet available and is pursuing other opportunities for restaurants in the center.
The financial terms of the acquisition were not disclosed.
“This acquisition underscores our commitment to revitalizing retail centers and unlocking their potential, the Salem market is a hidden gem where retailers are thriving and retail traffic is strong” said Sanjiv Chopra, CEO of Rhino Investments Group. “Lancaster Marketplace presents a remarkable opportunity to create value for tenants, shoppers, and the community alike. We are excited to work alongside existing and new tenants to enhance the center’s role as a vibrant community hub.”
;
