Leased! 7,965 SF at the Ross Center in Happy Valley
After being vacant for quite some time, Stacy Looney with SVN Bluestone, negotiated the lease for 7,965 SF of retail space to Human Real Estate Services. Stacy Looney represented the landlord and Anne Hecht of Cushman and Wakefield represented the tenant.
SOLD! Ramada Hotel at Portland Airport
The SVN – NW Hotel Advisor Team including Brian Resendez, CCIM, Michelle Reid, Licensed Assistant, and Joey Aiston worked diligently with the Seller of the Ramada Hotel at the Portland Airport. The asset was a franchised hotel with 200 rooms near the Portland International Airport. The Seller had been in touch with Brian for many years but only in Fall 2021 was an appealing offer delivered and approved by the Seller. The Buyer, represented by another Broker, went through significant diligence and ultimately closed in October 2022 for $13,500,000. The transaction required 8 extensions, price changes, zoning changes, and multiple other layers of requirements to finalize the deal as a conversion from a hotel to a housing project. In the end, the Seller was happy to get the deal done, and the Buyer will ultimately use this for housing.
SOLD! Office Building in Vancouver, WA
The SVN Bluestone investment team of Cliff Hockley, Jim Wierson II, and Olesya Prokhorova sourced a transaction for a client that involved a complicated 1033 Exchange. Finding a property that made sense was extraordinarily difficult. The client wanted to buy a property in a market as the CAP rates were adjusting downwards. Most options simply did not make any financial sense. Additionally, the client wanted to invest outside of Multnomah County. We looked at residential, industrial, retail and finally office properties and we were unable to identify a reasonable option for our client. Spiking office vacancies, high turnover costs, and the low demand for office space nearly eliminated all of the office properties as possible options. However, the team found 5101 NE 82nd in Vancouver, WA, a 28,500SF class A office building that the clients were impressed with. It was an attractive investment with a well-diversified tenant base and was a professionally managed property in excellent condition. However, early in the transaction, one of the major tenants gave notice to vacate the property, forcing the Buyers and the Sellers to find a creative way to make a deal come together. With the help of SVN Bluestone (Buyer representatives) & flexible… View Article
Just Closed! Industrial Building in NE Portland
Just Closed! Freestanding Retail Building in Milwaukie
Senior Advisors Cliff Hockley, Jim Wierson II, & Olesya Prokhorova represented the buyer. Contact them at 503-222-3800! View all of SVN Bluestone and Hockley properties for sale and lease HERE!
Sold! Value-Add Opportunity in Downtown Hillsboro
Just sold! Value add redevelopment opportunity in downtown Hillsboro just sold for $1,475,000! SVN Bluestone and Hockley Senior Advisors Cliff Hockley, Jim Wierson, and Olesya Prokhorova represented the seller in this transaction. View all properties available for sale and lease HERE! #commercialrealestate #portlandrealestate #realestateinvestors #Hillsbororealestate
Just Sold! Industrial Building + 4-Plex
Congratulations to the new owners of the Forge Parkour! The architecturally unique industrial building is 9,466 SF. This rare 3 story building was constructed three years ago by a local Portland architect. The sale also included a 4-plex just down the road for additional income! The sale closed in August 2021 for $2,240,000. Stacy Looney and Jim Wierson with SVN Bluestone & Hockley represented the seller in this owner/user investment opportunity!
Sold: Redwood Inn in Medford
The Redwood Inn is a 47 room, 12,200 SF hotel in Medford, OR. SVN Bluestone and Hockley Senior Advisor, Brian Resendez, represented the seller and the buyer in the transaction. The hotel sold for $2,350,000 and will be converted to affordable housing. The transaction closed in March of 2021. Contact SVN Bluestone and Hockley Advisors for advice on growing your real estate portfolio or are thinking of investing in commercial real estate. You can also view our properties for sale or lease on our website or you can also visit NW Hotel Investor’s website for hospitality properties.
Sold: Whiskey Inn in Pendleton, OR
The Whiskey Inn is a hotel in Pendelton, Oregon that was recently purchased to be converted to affordable housing. SVN Bluestone and Hockley Senior Advisor, Brian Resendez, represented the seller and the buyer in the transaction. The hotel sold for $1,00,000 and will be converted to affordable housing. The transaction closed in March of 2021. Contact SVN Bluestone and Hockley Advisors for advice on growing your real estate portfolio or are thinking of investing in commercial real estate. You can also view our properties for sale or lease on our website or you can also visit NW Hotel Investor’s website for hospitality properties.
Sold: Paradise Inn & Suites, Lincoln City, OR
The Paradise Inn & Suites is an 18,020 SF hotel with 31 units in Lincoln City, Oregon. SVN Bluestone and Hockley Senior Advisor, Brian Resendez, represented the buyer in the transaction. The hotel sold for $3,250,000 and will be converted to affordable housing. The transaction closed in March of 2021. Contact SVN Bluestone and Hockley Advisors for advice on growing your real estate portfolio or are thinking of investing in commercial real estate. You can also view our properties for sale or lease on our website or you can also visit NW Hotel Investor’s website for hospitality properties.
Sold: Red Lion Inn & Suites, Eugene, OR
The Red Lion Inn & Suites is a 50 unit hotel in Eugene, Oregon. SVN Bluestone and Hockley Senior Advisor, Brian Resendez, represented the buyer and seller in the transaction. The hotel sold for $5,500,000 and will be converted to affordable housing. The transaction closed in February of 2021. Contact SVN Bluestone and Hockley Advisors for advice on growing your real estate portfolio or are thinking of investing in commercial real estate. You can also view our properties for sale or lease on our website or you can also visit NW Hotel Investor’s website for hospitality properties.
Sold: Econo Lodge in Spokane, WA
The Econo Lodge Inn & Suites is a 132-guestroom exterior corridor motel originally built in 1962. This property is well located in Spokane, WA along Interstate 90 between the Spokane International Airport and the downtown area on over 3 acres of land. The sale includes an additional 1-acre lot on W Sunset Blvd. currently used for Park & Ride. SVN Bluestone and Hockley Senior Advisor, Brian Resendez, represented the seller in the transaction and it closed in January of 2021. Contact SVN Bluestone and Hockley Advisors for advice on growing your real estate portfolio or are thinking of investing in commercial real estate. You can also view our properties for sale or lease on our website or you can also visit NW Hotel Investor’s website for hospitality properties.
Sold: Cabana Motel in Othello, WA
The Cabana Motel is a 55 unit non-operational economy motel in Othello, WA. The property consists of 7 buildings located on 2.5 acres and was built in 1965. The motel was in the process of being converted to a Motel 6, but the owners did not complete renovation. SVN Bluestone and Hockley Senior Advisor Brian Resendez represented the buyer and seller as a dual agent in the transaction. The $825,000 transaction closed in late December 2020. Contact SVN Bluestone and Hockley Advisors for advice on growing your real estate portfolio or are thinking of investing in commercial real estate. You can also view our properties for sale or lease on our website or you can also visit NW Hotel Investor’s website for hospitality properties.
Buyer Representation: Retail Space in NW Portland
The 2,500 SF single-story retail space is located at 1212-1218 NW Glisan. In the heart of the Pearl District, it is located just off of 13th Avenue and is surrounded by condominiums and apartment buildings. The prime location was ideal for the buyer. SVN Bluestone and Hockley Advisors Cliff Hockley, Jim Wierson, and Olesya Prokhorova represented the buyer in the transaction. The deal closed for $1,100,000 at the end of December 2020. Contact SVN Bluestone and Hockley Advisors for advice on growing your real estate portfolio or are thinking of investing in commercial real estate. You can also view our properties for sale or lease on the website.
Buyer Representation on 21-Unit Apartment Complex Purchase
The 21-unit apartment complex, Pickett Park Apartments, is located at 1430-1640 SW Bertha Blvd. in Portland, Oregon. The complex features a mix of 1-bedroom, 2- bedroom, and 3-bedroom units. The property closed in early January 2021 for $3,100,000. SVN Bluestone and Hockley Advisors Cliff Hockley, Jim Wierson, and Olesya Prokhorova represented the buyer on the deal. Contact SVN Bluestone and Hockley Advisors for advice on growing your real estate portfolio or are thinking of investing in commercial real estate. You can also view our properties for sale or lease on the website.
Canyon Square Shopping Center Leased
Canyon Square Shopping Center has a diversified tenant mix and ample parking with a 4/1000 ratio. It is conveniently located in a high traffic retail corridor with easy access, in a large suburban area of Portland MSA. Several large retailers are located close to the shopping center. The tenant, KC’s Smoke and Vape, has locations in the eastside of Portland and was looking to expand to the westside of the city. The tenant was seeking a location that offered easy access and convenient parking, and proximity to their warehouse. The Canyon Shopping Center has a 1,450 SF retail space available for lease. However, this space was too large to meet the needs of the tenant and the monthly rent was more than what was budgeted. The property manager at Bluestone and Hockley worked with the broker to reclaim a smaller better-situated space, that had been vacated during COVID. The Tenant was able to reuse some of the shelving and was given access and free rent to help with the renovation and new buildout. SVN Bluestone and Hockley Advisor Patrice Cook represented the landlord and tenant on this transaction. For more information on properties available for lease or sale, view the… View Article
