The 178,190-Square-Foot Power Center Represents the New York-Based Company’s Seventh Acquisition in the Pacific Northwest

Time Equities Inc. (TEI), a full-service New York City-based real estate firm, has announced the acquisition of Orchards Market Center, a 178,190-square-foot community shopping complex located in Vancouver, Washington, for $26.6 million. The power center, located at 11505 NE Fourth Plain Road and purchased from national real estate investment trust SITE Centers, is TEI’s seventh acquisition in the Pacific Northwest.

“For TEI, this represents a significant acquisition in the greater Portland metro area and adds to our growing Northwest Portfolio, where we also acquired Columbia Gorge Outlets in nearby Troutdale three years ago,” said Ami Ziff, Director, National Retail for TEI. “We continue to strategically expand our retail holdings throughout the country, and look forward to continuing to grow our presence significantly within the next several years.”

While exact terms of the transaction are undisclosed, Mr. Ziff and Jonathan Kim, Senior Portfolio Manager in the National Retail group, represented TEI in-house; CBRE’s Capital Markets team in Seattle, led by Senior Vice President Dino A. Christophilis, exclusively represented the seller.

The center, which was built in 1994 with construction updates made as recently as 2007, is in a high-traffic neighborhood of Vancouver and is one of Clark County’s premier shopping destinations. Located in SW Washington’s most active retail corridor, the center is currently 98% occupied and home to national legacy brands, restaurants and service businesses. Current retailers include LA Fitness, Sportsman’s Warehouse, Starbucks, JOANN Fabric, Office Depot, Petco and others.

For more information on Citrus Center please email Ami Ziff at aziff@timeequities.com or visit www.timeequities.com.

About Time Equities Inc.

Founded in 1966, Time Equities Inc. (TEI) has been in the real estate investment, development, and asset and property management business for more than 50 years. TEI currently holds in its own portfolio approximately 32.8 million square feet of residential, industrial, office and retail property – including more than 5,000 multi-family apartment units. In addition, TEI is engaged in various stages of pre-development and development for approximately 1.02 million square feet of various property types. With properties in 33 states, 5 Canadian provinces, Anguilla, Germany, Italy and the Netherlands, the TEI portfolio benefits from a diversity of property types, sizes and markets. There are concentrations in the Northeast, Southeast, Midwest and West Coast of the U.S., and new markets around the world are always being evaluated.