Commercial Update

by BHHS Northwest Real Estate on 9/1/2016

December, 2018- A December to remember…Sounds like a catchy jingle but for the Commercial Division it rang true this December!

Let’s start off in Dundee Oregon. Jorie Girod Willers and Tom Hanacek sold the Harvest Inn Property, home of the Inn at Red Hills boutique hotel, Babica Hen Cafe and numerous wine tasting shops in Dundee, Oregon for $5 million. Jorie was instrumental in getting the deal into escrow over 9 months ago and then worked with both the buyers, the sellers and escrow on a very complex due diligence and closing process involving over 10 selling entities in the form of trusts, 401ks and individuals. A special thanks to Rob Molzahn for a great referral.

Also, in Dundee, Jorie & Rob Molzahn, joined forces to closed on the 15-acre Highway Commercial piece of land in Dundee for $1,060,000.

Next, I wanted to acknowledge another great referral, this time, from Natalya Oreste which led to a 11,056 SF lease with JouleSmart at the 570,000 SF PacTrust Business Center off of SW 72nd Avenue and Upper Boones Ferry Road in Tigard. Tom Hanacek and Jorie Girod Willers negotiated the deal with Dave Hicks of Pacific Realty Partners (PacTrust). JouleSmart specializes in providing energy saving solutions for small and mid-size businesses nationwide and will move from their current space of just over 4,000 SF into this 11,054 SF flex space on February 1st.

Not too far away from the PacTrust Business Center, Tom and Jorie represented BB3, LLC dba The Exercise Coach on a lease of 1,451 SF at Two Centerpointe in Lake Oswego. This was a national referral and will be The Exercise Coach’s first franchise in Oregon. Currently, The Exercise Coach operates some 40+ facilities specializing in low impact workouts and nutritional counseling. They are located predominately in the Midwest, with the largest concentration of franchises in Texas and Illinois. Look for The Exercise Coach to open at Two Centerpointe in February.

And, staying in the fitness industry, Tom and Jorie represented Core Fitness & Yoga on a 1,543 SF space at the Burnside Plaza on NE 8th Avenue, just off of E. Burnside Street in Gresham. A special thanks to April Stewart for the referral. All totaled, it took just over 6 weeks from first meeting to a lease signing which is fast in this business. Core Fitness & Yoga also hopes to open its doors in February.

On the listing side, Tom Hanacek was also referred, “in-house”, by Carl Hanacek, property manager of the Molalla Center at 2200 Molalla Avenue in Oregon City to lease a 1,200 SF retail space coming available at the first of the year. This is a very visible strip center just south of the Fred Meyer entrance off of Molalla Avenue. Call for details.

Speaking of listings, the owners of Barker Muffler have decided to retire and sell their property at 4525 Northeast M L King Boulevard. Bruce Nicholson was selected from a select group of commercial brokers to represent them. The 10,592 square foot redevelopment opportunity is now listed at $159,500. The mixed-use commercial zoning allows for office, retail and multifamily up to seven stories high. A great opportunity for a developer.

Finally, from Valerie Schumann at the Oregon Coast, an innovative buyer worked with her on the successful purchase of the Tillamook River RV Park. The park has languished a bit even though it is a beautiful “island” of land between the Tillamook and Trask Rivers. Located in a FEMA Floodway, most interested prospects were baffled by ways to expand the park given the restrictions. Working with County Planning and Sanitation, the new owner is bullish about expansion and bringing more RV, tent and camp sites to this desirable location between Tillamook and Cape Meares, Netarts and Oceanside. Valerie also completed another sale in Downtown Tillamook to a local owner/occupant who is relocating from another downtown location that was sold to a new eye doctor for their new business location.

Valerie notes that she is benefitting greatly from Commercial Division Broker, Becky Potter, who is spending a number of days a month partnering with Valerie on a number of projects. Valerie also writes that she is grateful to be appointed to the Tillamook County Housing Commission, recently having their first meeting to work to find creative solutions to the county-wide housing crisis.

To wrap up the listing side, Becky Potter has a new listing in Vancouver (co-listed with Cheryl Williams). It is a 2,382 sq. ft. office for sale for $450,000. Could have many uses. Becky reports having a lot of interest in the property, already. Coincidentally, they are also busy with this same Company, on the buy side, getting a 4,500 sq. ft. building, close to the Downtown water front area, under contract. So, hopefully, this existing building will sell quick for a two-fer. Call Becky for more details on her new listing.