Woodstock property sold for $15.7 million.
BY JACOB PALMER | DIGITAL NEWS EDITOR
The Woodstock building in which the latest New Seasons store operates has been sold for $15.7 million.
Powell Valley Apartments LLC, registered to a development firm in Clackamas, bought the property from John Reinhold and First Western Development.
Capital Pacific represented both the buyer and seller in the transaction. The deal, which had been in the works prior to the store opening, shouldn’t have much direct impact on New Seasons, which signed a 25-year lease for the store.
Capital Pacific will also sell the New Seasons site on North Lombard Avenue, which is currently under construction and expected to open next year. That site, priced at $10.8 million, is owned by Deacon Development Group, a Portland development firm.
(SOURCE: Portland Business Journal)