Melvin Mark Cos. sells development arm

Real estate company allows executive to acquire division.

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Real estate group Melvin Mark Cos. has allowed an executive to acquire its development division.

Dan Petrusich is behind the purchase.

According to a release, Petrusich will remain president of the development company and will keep all existing employees. The company will be renamed before the end of the year and will continue moving forward on projects already underway, including the James Beard Public Market at the west end of the Morrison Bridge and a 55,000-square-foot building for the Oregon Department of Human Services in Grants Pass.

“With the closing of the Morrison Bridgehead sale by Multnomah County, Dan’s purchase of the company assets is well-timed,” said Jim Mark, CEO of Melvin Mark Companies, in the release. “He has exclusively led the vision on the (Morrison) Bridgehead project, and has been instrumental in moving it forward. He is the right person to oversee development and manage it through to opening day.”

(READ MORE: Portland Business Journal)

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