So Cal Mall REIT Liquidating Portfolio

Burnham Pacific Properties Inc. said yesterday it plans to sell its multi-state real estate holdings and liquidate the company.

The San Diego-based real estate investment trust owns 7 shopping centers in Western Oregon, including three in the greater Portland area, two near Salem and one near Astoria. They include:

-Clackamas Promenade in Clackamas, Ore., a 430,004-sf center located in Clackamas County, Oregon. Major tenants at the center include a Sportsmart, Nordstrom’s Rack and Pacific Linens. Other anchors in property not owned by Burnham include a 116,284-sf Target and a 77,870-sf Mervyn’s.

-Young’s Bay Plaza in Warrenton, Ore., a 93,776-sf neighborhood shopping center anchored by a 33,400-sf Rite Aid and a 25,684-sf Lamont’s Apparel.

-Farmington Village in Aloha, Ore., a 105,247-sf neighborhood shopping center anchored by a 41,935-sf Albertson’s and a 30,572-sf Bi-Mart, neither of which are in buildings owned by Burnham.

-Kaiser Creekside in Salem, Ore., a 104,208-sf center of which Burnham owns about 61,000 sf. A 42,269-sf Albertson’s and a 31,472-sf Rite Aid anchor the center.

-Village East in Salem, Ore., a 220,926-sf center anchored by a 45,000-sf Albertson’s not part of Burnham’s ownership, as well as a 32,396-sf Ross Dress for Less, a 25,125-sf Border’s Books and a 30,000-sf Bi-Mart.

-Silverton Plaza in Silverton, Ore., a neighborhood center anchored by a 35,470-sf Safeway and a 20,122-sf Rite Aid.

-Greenway Town Center in Tigard, Ore., a 93,100-sf neighborhood shopping center anchored by a 37,500-sf United Grocers, a 17,000-sf Rite Aid, and a 12,000-sf Hancock Fabrics.

Burnham Pacific says it had considered selling the company as a whole or reorganizing, but didn’t receive adequate offer prices. Its other holdings are in Washington, California, Colorado, New Mexico, Utah, Texas, Minnesota, Illinois, Connecticut and Maryland.