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1/17/17
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Fairfield Residential picked up a 30.3k sf redevelopment site in Portland for $3.6 mil. The property, located at 2869 NE Sandy Blvd, is one of the largest development opportunities in the area.
The site encompasses five separate parcels. Coupled with a neighboring parking lot, the scale of the site and zoning allow in excess of 200 units to be constructed at this community node.
The site lies within the highly sought after Kerns neighborhood and is at the northern end of NE 28th Avenue, which is known locally as “Restaurant Row”. NE Sandy Boulevard, a major commercial boulevard stretching out from the downtown area, is highly amenitized, and allows residents a truly walkable and bikeable lifestyle. The site is at the center of where Portland loves to live, dine and shop.
Graham Taylor with CBRE represented the seller in the deal. Taylor notes, “new life continues to be brought to the neighborhood as projects up and down Sandy come to life, placing the site at the center of a wave of retail and multi-family development.”
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