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.
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For more information:
• Darcie Giacchetto, Places Public Relations: 949.278.6224