Opus Ready for Ownership, Redevelopment of Durham Quarry

DURHAM, OR-If Opus Northwest and Center Oak Properties held title to the Durham Quarry already, they might also have in hand several signed letters of intent from the myriad retailers anxious to service the upper-class rooftops in the area and advertise to drivers on the Interstate that runs right by it.

Alas, they do not hold title. Not yet. Opus and Center Oak are deep in exclusive negotiations with quarry owner Washington County to purchase the property in exchange for the right development and a stake in the upside. What Opus has so far offered for the property has not yet been revealed.

Despite the expectations for a January sale agreement, Bruce Wood, senior director for Opus Northwest, tells GlobeSt.com there are a number of different possible outcomes. “They are considering a ground lease arrangement, buying certain parcels, or selling it all to somebody else and splitting the profits,” says Wood. “It could be any of that.”