550 NW 6th Ave Local commercial 4 437 m² 100 % Loué À vendre Portland, OR 97209 8 614 900 € (1 941,66 €/m²)

The Offering
CBRE Capital Markets, as exclusive advisor, is pleased to present the extraordinary opportunity to acquire the former Greyhound Terminal at Union Station, a prime redevelopment site located in Northwest Portland’s Old Town District, within the transformational Broadway Corridor Project. The 2.08-acre site boasts an unparalleled location with immediate access to public transit, including the Portland Streetcar and the MAX Light Rail.
Investment Highlights

* Broadway Corridor Project | Prosper Portland purchased the 14-acre Downtown USPS sorting facility in 2016 and has since completed the majority of demolition of the buildings, while starting entitlement of the first project. The former Greyhound Terminal site is located within the larger 34-acre project area, identifying additional sites of opportunity that will be impacted by this catalyst for growth within the district.

* Opportunity Zone | The property is located within an Opportunity Zone. The Tax Cuts and Jobs Act of 2017 established a new federal tax incentive to encourage long-term investments in certain areas designated as “Opportunity Zones.” The Greyhound Terminal site falls within one of these 31 designated zones in the Portland Metro Area, meaning that investors may earn tax relief on both the capital gains invested in the funds and those generated through the investment by the fund.

* Preferred Long-Term Location | The former Greyhound Terminal, within the Old Town neighborhood, is surrounded by two of the most appealing and desirable neighborhoods in Portland: The Pearl District and Downtown, including the Tech Triangle just south of W Burnside Street. The property is a short walk to retailers, restaurants, and service providers ranging from national brands to boutique shops and cafés.

* Transit Oriented | A prominent location provides direct access to the Broadway and Steel Bridges, connecting commuters to the Eastside, as well as major arterials. With the MAX Light Rail located on site and the Portland Streetcar just a five-minute walk away, public transit connects riders throughout the Metro.