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Avison Young’s Maling-Barnes Team announces O\opportunity to acquire STNL retail property occupied by Parkrose Hardware in West Linn, OR3 Sep 2020
Los Angeles – On behalf of its seller client, Avison Young Principals Chris Maling and David Maling of the Maling-Barnes Team are pleased to announce they have brought to market an essential, single-tenant, retail property occupied by Parkrose Hardware located at 1855 Blankenship Road in West Linn, OR. Situated on 5.5 acres of land and totaling approximately 47,450 square feet, the property’s asking price is $6.5 million.
The freestanding building occupied by Parkrose Hardware is the anchor tenant to River Falls Plaza shopping center which includes Chase Bank, Dutch Bros., Great Clips, and Subway, among others. The property features a large 552’ frontage on Blankenship Road, ample parking with 300 free surface spaces, and was remodeled in 2020.
“Parkrose Hardware will be attractive to an investor seeking an essential needs retailer with a long-term lease,” said Chris Maling. “This property features a new, 10-year triple-net lease with scheduled rent increases to hedge against inflation and requires no landlord responsibilities. We expect to see a good amount of buyer interest from out-of-state 1031 exchange investors and family offices.”
The property is located in the premier Portland metropolitan suburb and offers immediate access to Interstate 205 which connects to the surrounding metro.
For additional details on the property, click here.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises thousands of real estate professionals in more than 100 offices around the world. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.
Avison Young is a 2020 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.
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For more information:
• Darcie Giacchetto, Places Public Relations: 949.278.6224