Norris & Stevens Brokers $2M Sale of Portland Retail Property
Norris & Stevens’ Luis Martin del Campo and Michael Simmons represented both parties in the sale of a standalone retail building in Portland, OR. Yusuf Iqbal purchased the asset, located at 16544 SE Division St., from Harold Ward in the $2.25 million transaction.
Constructed in 1987, the 12,400-square-foot building was formerly home to an electronics store, and features a rear secured gated area with a roll-up door, good signage opportunity and 21 parking spaces on a lot that is just under an acre.
SE Division Street sees an average daily traffic count of 32,000 vehicles and the property is within close proximity to major retailers as well as TriMet’s FX2 bus line, which serves stops between downtown Gresham and downtown Portland.