FOREST GROVE, OR-What is now a mess at the corner of Pacific Avenue and Highway 47 will start looking better in the next few months, as Albertson's begins to clear the site in preparation for a 57,000-sf grocery store for which it will break ground next summer.
VANCOUVER, WA-Legacy Health System exercised its 45-day-old option for the 24-acre property, paying $9.7 million, or about $9.27 per sf. The acquisition gives Legacy a bigger, better site for a new 220-bed hospital than the 13-acre one it purchased nearby last summer.
FOREST GROVE, OR-Leased by Schuck's Auto Supply, the property sold for 99% of its list price, according to sources close to the deal. The seller was the Mitchel-Kocken Trust of Portland. The buyer was Rudi DeGrinis of Thousand Oaks, CA.
DURHAM,.OR-Bruce Wood, senior director for Opus Northwest, tells GlobeSt.com he hopes to wrap up negotiations with Washington County for the 29-acre pit by mid January and this spring begin a year's worth of site work before developing 875,000-sf of retail and office space.
PORTLAND-Chicago-based Equity Office Properties Trust recently spent $2.2 million to remodel the ground-floor of the 361,143-sf office tower and soon will rename it Congress Center.
SAN FRANCISCO- The transaction is expected to close Dec. 14. It will reduce CalPERS' ownership in Catellus to approximately 9.45% of the company's outstanding stock. CalPERS will be able to trade its remaining shares freely.
ALOHA, OR-The resort and country club was sold by Korea-based Dong Shin Construction, which has merged with a subsidiary of the buyer, America Time East Media Group, and requested listing on the Nasdaq National Market.
PORTLAND-The Portland Development Commission is expected to move forward today by singing off on the hiring Yost Grubb Hall Architecture to study whether to renovate the former Holman Moving & Storage Building, located across the river from Downtown, or demolish it and build anew.
HILLSBORO, OR-The seller was Regency Centers, a national owner, operator and developer of grocery-anchored shopping centers, something Tanasbourne Center is not. Regency acquired the land for the project in December of 2000.
PORTLAND-Although it has sold the 218,000-sf heart of the five-block redevelopment project, developer Gerding Edlen still has things to gain if it leases up and things to lose if it does not, according to the man who acquired the building on behalf of Multi-Employer Property Trust.