PORTLAND, OR – July 12, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $8.825 million sale of the 1.21-acre Boys & Girls Club site in Sellwood, a community in Southeast Portland.
HFF marketed the property on behalf of the seller, the Boys & Girls Club of Portland Metro, and procured the buyer, NBP Capital. The property was sold on a free and clear basis, and the buyer plans to develop a mixed-use community featuring apartment units and retail.
The Sellwood Boys & Girls Club site is located at 7119 SE Milwaukie Avenue at the corner of SE Ogden Street and SE Milwaukie Avenue in Southeast Portland. Boasting a Walk Score© of 89, the site is within close proximity to numerous boutique shops, restaurants and cafes that comprise the primarily single-family residential area. Within eight blocks of the site, sits the MAX Orange light-rail line that connects Sellwood to downtown Portland and the Oregon Health and Sciences University (OHSU) campus in Portland’s South Waterfront.
The HFF investment sales team representing the sellers was led by managing director Ira Virden and director Carrie Kahn.
HFF also made a donation back to the Boys & Girls Club of Portland to fund future programs.
“We were honored to have been selected by the Boys & Girls Club of Portland to market their Sellwood location. This was a high-profile assignment locally, and a hotly contested process that attracted a lot of interest from local and national developers. With a combination of limited new apartment construction in Sellwood and continued in-migration to the Portland market, we expect the new project to do extremely well and be a big boost to the neighborhood,” said Virden.
About the Boys & Girls Club of Portland Metro
The Boys & Girls Clubs of Portland has been serving youth since 1946. The clubs are located in under-served communities and are uniquely equipped to provide enrichment programs to youth while empowering them with a sense of belonging and security. Today, the Clubs have grown to operate six facilities located throughout the Metropolitan area, along with four school-based programs in partnership with the Parkrose and Reynolds School Districts. To learn more visit: www.bgcportland.org.
About NBP Capital
NBP Capital is a full service real estate management, development and maintenance company based in Portland, Oregon. Focusing on assets in the Pacific Northwest, NBP Capital currently services an excess of 3,000,000 square feet of real estate through its subsidiaries: Templeton Property Management, Broadway Ace Hardware, Rose City Renovations and Willamette Landscaping.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.