The 47,451-square-foot single-tenant retail property occupied by Parkrose Hardware was renovated last year, and Parkrose recently signed a long-term lease for 10 years. Located at 1855 Blankenship Rd. in West Linn, OR, the property is the anchor tenant to the River Falls Plaza shopping center which includes Chase Bank, Dutch Bros and Subway, among other tenants.
The retail asset recently sold to a Portland private investor for $6.03 million. Avison Young principals Chris Maling and David Maling along with Colliers local market expert Denis O’Neill represented the seller, a court-appointed receiver.
Built in 1998, the property is situated on 5.5 acres and includes 300 parking spaces. The asset features 552 feet of frontage on Blankenship Road, with proximity to and visibility from Highway 205. The property is within the affluent Waterfront Portland metro suburb.
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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