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4/16/21
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A private investor paid $6.03 mil for a 47.5k sf ($127/sf), single-tenant retail property in West Linn, OR. It was sold by a court-appointed receiver.
Located at 1855 Blankenship Rd, the property is occupied by Parkrose Hardware. It is the anchor tenant to the River Falls Plaza shopping center, which includes Chase Bank, Dutch Bros, and Subway, among other tenants.
Built in 1998 with a renovation in 2020, the property is situated on 5.5 acres and includes 300 parking spaces. The property features 552 feet of frontage on Blankenship Rd, and is nearby and visible from Highway 205. The property is within the affluent Waterfront Portland metro suburb.
Chris Maling, David Maling and Denis O’Neill with Colliers represented the seller in the deal. According to Chris Maling, the property was recently remodeled, with Parkrose Hardware signing a long-term lease for 10 years.
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