Avison Young brokers $6.03 million sale of a single-tenant retail property occupied by Parkrose Hardware in West Linn, OR
April 13, 2021Los Angeles, CA – Avison Young announced today it has brokered the approximately $6.03 million sale of a 47,451 square-foot single-tenant retail property that is occupied by Parkrose Hardware. Located at 1855 Blankenship Road 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.
Avison Young Principals Chris Maling and David Maling along with local market expert Denis O’Neill with Colliers, represented the seller, a court appointed receiver. The buyer was a private investor from Portland.
“This property was recently remodeled, and Parkrose Hardware signed a long-term lease for 10 years,” said Chris Maling.
Built in 1998 with a renovation in 2020 the property is situated on 5.5 acres and includes 300 parking spaces. The property features 552 feet of frontage on Blankenship Road and is nearby and visible from Highway 205. The property is within the affluent Waterfront Portland metro suburb.
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