PDX CORE DEVELOPMENT OPPORTUNITY

Transcription

1 PDX CORE DEVELOPMENT OPPORTUNITY COMBINED 12,000 SF LOTS - PORTLAND, OR N Shaver Street N Vancouver Avenue N Williams Avenue 4037 N Williams Avenue 4047 N Williams Avenue Investment Real Estate www. hfore.com (03) OFFERING MEMORANDUM

2 N Vancouver Avenue 4037 N Williams Avenue 4047 N Williams Ave 4047 N Williams Avenue N Williams Avenue N Mason Street INVESTMENT OVERVIEW The Williams retail corridor has flourished since the opening of a New Seasons grocery store in More than a dozen new apartment and condominium projects have been built, with more on the drawing boards. This eclectic neighborhood includes many favorite local restaurants and shops within easy access of light rail and the I- freeway. The Wilmore Apartments will advance the continuing transformation of the Williams retail corridor by adding yet another modern architectural element. Major area employers include New Seasons and the Portland Community College (PCC) Cascade Campus which serves 24,000 students. In addition to PCC and New Seasons, nearby 2 HFO INVESTMENT REAL ESTATE Legacy Emanuel and Randall Children s hospitals employ more than 4,00. Adidas North American Headquarters is in the process of a significant expansion and will be adding to its current workforce of 80. Kaiser Permanente employs more than 00 at its Interstate Medical Office. A + Location The popular retail corridor of N Williams Avenue is easily accessible by bike or foot, as is the Mississippi District and the Alberta Arts District. Walkable neighborhood (88 walk score) Biker s paradise (94 bike score) Existing Structure s The properties currently house about,000-square-feet of rental properties. Current tenants could provide valuable income during the early planning stages of development. Additional Highlights There are more than 80 shops, restaurants, grocery stores and markets within a mile of the property Just a quick walk/bike to New Seasons Located minutes from Denorval Unthank City Park, Dawson Park and Irving Park The property has frequent bus service along N Williams Avenue

3 EXECUTIVE SUMMARY PRICE SUMMARY Price $2,400,000 Per Square Foot $ NE Columbia Blvd 30 PHYSICAL INFORMATION City Portland N Rosa Parks Way 99E NE Dekum St County Zoning Multnomah EXd - Central Employment NE Ainsworth St NE Ainsworth St FAR 3:1 Height Limit 6 ft NE Killingsworth St NE Killingsworth St Acres 0.28 (12,000 sf) NE Alberta St TAX INFORMATION Tax ID R Acres Tax ID R Acres N Going St 4037 N Williams Ave 4047 N Williams Ave NE Prescott St For More Information N Interstate Ave N Mississippi Ave N Vancouver Ave N Williams Ave NE Fremont St NE 1th Ave Greg Frick greg@hfore.com Lee Fehrenbacher lee@hfore.com 2424 SE 11th Avenue, Portland, Oregon (03) Fax: (03) Willamette River NW Front Ave NE Knott St 40 99E 0.14 ACRES 4047 N WILLIAMS AVE PORTLAND, OR 3

4 AMENITIES MAP (NORTH-SIDE) Restaurants and Dining Shopping/Entertainment Lifestyle Services 1 N Kerby Ave N Haight Ave N Vancouver Ave N Williams Ave NE Mallory Ave N Skidmore St N Mason St N Mississippi Ave N Shaver St N Williams Ave 4037 N Williams Ave N Failing St Denorval Unthank City Park Locale 2. Prost! 3. Monsoon Thai Cuisine 4. Homegrown Smoker Vegan BBQ. Mississippi Marketplace 6. Flapjack 7. The Rambler 8. Paxton Gate 9. Nectar 10. Interurban 11. Bridgetown Beerhouse 12. Lovely s Fifty Fifty 13. Forage Homewares + Gifts 14. The Fresh Pot 1. Animal Traffic 16. Moloko 17. North Portland Bike Works 18. Gravy 19. Stash Tea Retail Store 20. Bar Bar 21. UCHU Sushi 22. Townshend s Mississippi Teahouse 23. Mee-Sen Thai Eatery 24. Trailhead Credit Union 2. Blue Star Donuts 26. New Vintage Beauty Lounge 27. Pistils Nursery 28. Little Big Burger 29. Laughing Planet Cafe 30. Ruby Jewel Scoops 31. North by Northeast Liquor 32. Rovente Pizzeria 33. Coco Donuts 34. Open Tandoor 3. Vendetta 36. Saint Cupcake 37. Tiger Tiger Salon 38. Somethings 39. Philippe s Bread 40. Friendly Bike Guest House 41. Barre3 42. Poa Cafe 43. TeSoAria Vineyard & Winery 44. The Box Social 4 HFO INVESTMENT REAL ESTATE

5 AMENITIES MAP (SOUTH-SIDE) Restaurants and Dining Shopping/Entertainment Lifestyle Services N Beech St Center Drive N Kerby Ave N Haight Ave N Fremont St NE Cook St N Interstate Ave N Greeley Ave N Mississippi Ave Randall Children s Hospital N Vancouver Ave N Williams Ave NE Rodney Ave 40 NE Morris St N Kerby Ave Legacy Emanuel Medical Center NE Stanton St 4. Evolved Arts Tattoo Studio 46. United Bicycle Institute 47. Grizzly Tattoo 48. Hopworks Bike Bar 49. Crisp 0. Portland Bicycle Studio 1. SpielWerk Toys 2. Wax on Spa 3. Tasty n Sons 4. StormBreaker Brewing. The ReBuilding Center 6. BlackBook Guitars 7. Live Wire Radio 8. Sons of Haiti Food Carts 9. Oregon Deli Company 60. Mississippi Pizza 61. Village Child Care 62. Tito s Grill 63. The Spicy Spoon 64. Por Que No 6. Grand Central Bakery 66. Hot Yoga for Life 67. Spin Laundry Lounge 68. Ecliptic Brewing 69. Life of Pie Pizza 70. Cloak & Dagger Barber Co 71. Brass Tacks Sandwiches 72. The Whole Bowl 73. What s the Scoop? 74. Chalino 7. Tin Bucket 76. Maui s 77. El Burrito de Oro 78. New Seasons Market 79. Lai Thai Food Carts 80. Stoopid Burger 81. Smoothie & Chill 82. Unitus Community Credit Union 83. Pizza A Go-Go 84. The People s Pig 8. Game Knight Lounge 86. US Bank 87. Cathay Market 0.14 ACRES 4047 N WILLIAMS AVE PORTLAND, OR

6 CLOSE-IN PORTLAND SUBMARKET OFFICE DEMAND Not only does Portland have one of the lowest apartment vacancy rates in the country. As of Q1 2017, its office market vacancy rate was 9.9%, the seventh lowest in the country after Nashville, San Francisco, Seattle-Bellevue, Salt Lake, Austin, and Raleigh-Durham. (Jones Lang LaSalle, April 2017). After years of minimal additions to office space, Greater Portland now has more than 1.6 million sq ft of office space under construction. PUBLIC TRANSPORTATION All of downtown and close-in Portland is accessible by public transit that includes an extensive (and expanding) light rail system, streetcar and a national award-winning public bus system. Portland is ranked among the most bicycle-friendly cities in the world, with close to 8% of commuters biking to work the highest proportion of any major U.S. city. RECENT AREA CONSTRUCTION & ACTIVITY Many areas of close-in Portland continue to experience growth, rejuvenation and renewal. New apartments are under construction all over the City of Portland. Despite the uptick in supply, a shortage of apartments, along with population and economic growth, are expected to keep apartments in high demand. Portland Multnomah County POPULATION GROWTH BY COUNTY 2010 to ,09 2,974 SHARE OF COMMUTERS WHO WALK, BIKE AND PUBLIC TRANSIT BY CITY 2014 US CENSUS Portland Eugene 20% 24% Washington County 42,668 Beaverton 14% Clackamas County Deschutes County Marion County Lane County Jackson County Clark County, WA 9,14 10,000 10,929 14,740 17,429 20,000 24,609 30,000 34,132 40,000 0,000 60,000 Gresham Hillsboro Vancouver Bend Clackamas County 7% 6% 6% 12% 11% Walk Bike Transit 6 HFO INVESTMENT REAL ESTATE

7 Investment Real Estate Passion Collaboration Specialization 2424 SE 11th Ave Portland, OR (03)