CORFAC News

Portland, OR – Don Ossey, SIOR, and Rob McEachern of Capacity Commercial Group/CORFAC International, a leading full-service commercial real estate provider serving the Portland metropolitan market, today announced that the firm has won the listing to sell a prime redevelopment site in one of Portland’s most popular and vibrant neighborhoods.

Located at 2532 SE Hawthorne Blvd. and approximately 1.7 miles east of Portland’s Central Business District, the property is owned and currently operated by Artisan Dental, a dental laboratory which has business ties to the Portland community dating back to 1959.

Artisan Dental has retained Capacity Commercial Group/CORFAC International to identify and buy or lease a new facility in or near Portland.

The 0.88-acre Hawthorne Blvd. site is a block away from Safeway and two blocks to public (bus) transportation. The site is being offered to the market for an unlisted price.

Hawthorne Blvd. is one of the busiest east-west thoroughfares in Portland and the Buckman-Hosford-Abernathy submarket where Artisan Dental is located has begun to emerge as one of the Rose City’s trendiest neighborhoods. Two new multifamily communities on lots similar to Artisan Dental are coming to market soon. Hawthorne 21 Apartments at 1515 SE 31st Avenue is under construction and permits are being drawn for another 30-unit apartment community at 3424 SE Hawthorne Blvd.

“With a 3% to 4% apartment vacancy rate and double-digit annualized rent growth for the past several years, Portland certainly could benefit by adding more housing stock to our inventory, and the Artisan Dental location is perfectly suited for a mixed use type of redevelopment,” said Don Ossey.

Hawthorne Blvd. is mostly comprised of retail storefronts and restaurants yet the side streets and neighborhoods are exclusively residential with single-family homes, duplexes, fourplexes, parks and places of worship.

"As the original tenant in this building which, by the way, I helped design in 1973, it has been operated as a commercial dental laboratory from inception. I bought the building about 15 years ago and it has served our company well. At my stage in life, I feel it is time for us to move our business and find a developer to make this a very special project for Portland because of its beautiful views and proximity to downtown," said seller Karl K. Koch.

About Capacity Commercial/CORFAC International
Capacity Commercial Group/CORFAC International offers a highly customized brand of office and industrial real estate services. For individual and corporate clients, the Portland-based firm handle sales and leasing, plus a full mix of landlord representation including land acquisitions and dispositions. With regard for immediate and long-term business plans, Capacity Commercial Group is intent on helping its clients make the most informed decisions whether leasing, buying or selling commercial real estate property.