An April 1998 issue of the Statesman Journal featured one of his most lucrative deals. In the weeks before the article's publication, Mr. Kerley successfully brokered a collection of retail properties valued at $34.325 million, exceeding both the Salem Center’s sale price of $32.5 million and the sales volumes of many of the area’s leading commercial agents. The sale included four Oregon shopping centers and one former furniture store.
The buyer, Pan Pacific Retail Properties, Inc., was a San Diego-based real estate investment trust focused on shopping center transactions. At the time, a third of the firm's holdings were located in the Pacific Northwest, including 2.3 million square feet of retail space spanning 14 locations. The transaction included Pioneer Plaza, Milwaukie Marketplace, Powell Valley Junction, Shute Park Plaza, and a former furniture store in Hillsboro, Oregon. Pacific Retail Properties commended Mr. Kerley’s proactive approach and extensive market knowledge, which he attributed to his broad background in apartment investment.