- Type: Retail Building
- Size: 4250 SF
- Location: SW Portland -Multnomah Village
- Year Built: 1926
- Broker: Cliff Hockley
- Sale Price: 750,000
About the property…
Located in the heart of charming Multnomah Village, the property offered easy access to I-5 and US 99W, as well as numerous retail and restaurant amenities. Surrounded by residential neighborhoods, Multnomah Village is a walkable destination for a unique, independent shopping experience.
A longtime client with a 30 year relationship with Cliff Hockley had decided it was time to liquidate their assets due to market conditions. The property was listed in April 2018 and successfully closed June 2018. all parties worked diligently through obstacles that arose. Sewer repairs were required, the property needed to be surveyed again due to inaccuracies in a previous survey, multiple environmental tests were also needed. Brokers worked closely with the Buyer and Seller to mediate each challenge as it was discovered. The Buyer was an experienced developer and problem solver. They were comfortable with solving issues as they came up. The Seller was motivated and willing to help pay for repairs as they arose.
All parties had a part in making this transaction a success. The Buyer adds to their portfolio a building that is close to being fully leased in SW Portland. The Sellers goals were met by liquidating their assets.