CLOSE-IN PORTLAND REDEVELOPMENT SITE
KIDDER.COM VALUE-ADD & DEVELOPMENT INVESTMENT OFFERING | 1300 SE 2ND AVENUE | PORTLAND, OR
TABLE OF 01 EXECUTIVE SUMMARY The Offering CONTENTS Neighborhood Description Zoning Overlays
02 AREA DEVELOPMENTS Nearby Commercial & Multifamily Development Area Transit Area Retail EXCLUSIVELY REPRESENTED BY
SCOTT MURPHY, SIOR Senior Vice President 503.221.2287 [email protected] KIDDER.COM
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Kidder Mathews and should not be made available to any other person or entity without the written consent of Kidder Mathews. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Kidder Mathews has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Kidder Mathews has not verified, and will not verify, any of the information contained herein, nor has Kidder Mathews conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. This information has been secured from sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Recipient of this report must verify the information and bears all risk for any inaccuracies. 4 KIDDER MATHEWS OFFERING MEMORANDUM 1300 SE 2ND AVENUE PROPERTY OVERVIEW
Close-in Portland Property Redevelopment Site Industrial, Retail, or Office and Type Developable Land Address 1300 SE 2nd Avenue, Portland
Building Size 14,732 SF
Land Area 20,000 SF EXECUTIVE Occupancy Owner-Occupied Year Built 1948 SUMMARY Ceiling Height 14-30' Submarket Central Eastside
Zoning IG1 - General Industrial 1 some of the original redevelopment Development that shaped the neighborhood. The Opportunity Zone building and site are strategically Potential Kidder Mathews has been retained located in the Close-In SE sub- Plan District CC – Central City to exclusively market for sale the market of Portland one of the 1300 SE 2nd Avenue property in tightest industrial, office and multi- Comp Plan IS – Industrial Sanctuary family markets in the nation. Portland, OR. Urban Renewal Central Eastside Area Currently the industrial vacancy Bridge and quick access to I-5 North rate is 3.0% in the close-in SE and South, I-84 East, and Portland Enterprise Zone East Portland Enterprise Zone THE OFFERING submarket and is experiencing International Airport 11 miles to Property has exposure on The 20,000 SF site has 14,732 a fundamental change toward a the East. In addition, the Central Exposure three (3) streets; SE 3rd Ave, usable SF warehouse buildings that multitude of creative business types. Eastside neighborhood offers SE 2nd Ave, and SE Main St are primed for redevelopment to The property is laid out in a way countless retail amenities including take advantage of the Opportunity that lends itself towards a variety restaurants, hotels, breweries, and Parcel Number R149956 Zone benefits. The property has of uses including makers, artisans, shopping. This area has transformed PRICE $3,000,000 been Owner occupied for 50+ fabricators, designers, creative, into a top destination for employers REDUCED $2,500,000 years. The site is located in the heart and manufacturers. The property seeking a central location with close of the established Central Eastside location offers excellent access to proximity to urban neighborhoods, Industrial District surrounded by Portland’s CBD via the Hawthorne density, and livability.
1300 SE 2ND AVENUE OFFERING MEMORANDUM KIDDER MATHEWS 5 SITE PLAN
WAREHOUSE STRUCTURE
6 KIDDER MATHEWS OFFERING MEMORANDUM 1300 SE 2ND AVENUE RENDERINGS
ELEVATION IMAGES
ROLL UP GARAGE DOORS
149sf
AWNING WINDOWS, TYP.
46sf 46sf 46sf 46sf
12sf 12sf 12sf 12sf
115sf
215sf
1300 SE 2ND AVENUE OFFERING MEMORANDUM KIDDER MATHEWS 7 GOOSE HOLLOW NW DISTRICT
PEARL DISTRICT
CENTRAL BUSINESS DISTRICT OLD TOWN/ CHINATOWN
SOUTH WATERFRONT
WILLAMETTE RIVER
HAWTHORNE BRIDGE OREGON MORRISON BRIDGE CONVENTION
BURNSIDE BRIDGE BURNSIDE CENTER
OMSI SUBJECT PROPERTY
PORTLAND STREETCAR
LLOYD DISTRICT
CENTRAL EASTSIDE BASE CAMP INDUSTRIAL DISTRICT BREWERY
BUCKMAN FIELD PARK
REVOLUTION HALL 8 KIDDER MATHEWS OFFERING MEMORANDUM 1300 SE 2ND AVENUE NEIGHBORHOOD DESCRIPTION
for industrial, industrial office and employment land uses. Historically businesses in the district consisted With its proximity to the waterfront and downtown, primarily of industrial services, warehousing and the Central Eastside is a focal point for the city’s distribution, and manufacturing. Over the years, some economic development strategy and its goals for of these businesses have begun to migrate to other urban innovation in a close-in neighborhood core. areas with larger development parcels and better The site is located in the heart of the established Central access to the regional transportation network. in part due to a growing presence by Portland’s traded Eastside Industrial District, surrounded by some of the sector industries. Today the district boast one of the original redevelopment that shaped the neighborhood At the same time, the nature of industry in the U.S. highest employment and density centers the city has overlooking OMSI. has expanded as new technologies helped grow to offer. knowledge- and industrial design-focused firms. Extensive public transit systems makes the area The area’s evolution as an attractive site for a variety of accessible to employees and visitors, and the Eastbank Today, the CES houses more than 1,100 businesses businesses can be attributed to its unique collection Esplanade is a favorite Portland recreation spot for and 17,000 jobs. The district mixes industrial uses with of historic industrial buildings and centralized location cyclists and pedestrians to appreciate the river. creative businesses and is an emerging location of adjacent to Portland’s business core. The district is choice for cross-industry exchange, from film, digital considered a key employment center for the Central The Central Eastside Urban Renewal Area is a 708.5 and creative services to food and craft makers. While City, and urban renewal efforts are focused on creating acre subdistrict of Portland’s Central City along the east employment decreased in other Central City areas and maintaining jobs in the area through business bank of the Willamette River, which is zoned primarily during the economic downtown, this district flourished, development assistance and redevelopment financing.
1300 SE 2ND AVENUE OFFERING MEMORANDUM KIDDER MATHEWS 9 SUBJECT PROPERTY
10 KIDDER MATHEWS OFFERING MEMORANDUM 1300 SE 2ND AVENUE ZONING OVERLAYS
OPPORTUNITY ZONE INDUSTRIAL OFFICE The Opportunity Zones program Industrial office uses are Examples of industrial office: offers three tax benefits for investing characterized by activities that, while software and internet content in low-income communities through conducted in an office-like setting, development and publishing; a qualified Opportunity Fundi: are more compatible with industrial computer systems design and activities, businesses and districts. programming; graphic and A temporary deferral of for at least 5 years and by an Their operation are less service- industrial design; engineers; inclusion in taxable income for oriented than traditional office uses additional 5% if held for at least architects; telecommunication capital gains reinvested in an 7 years, thereby excluding up and focus on the development, service providers; data processing; Opportunity Fund. The deferred testing, production, processing, to 15% of the original gain from television, video, radio, and internet gain must be recognized on the taxation. packaging or assembly of goods studios and broadcasting; scientific earlier of the date on which the and products, which may include and technical services; and medical opportunity zone investment is A permanent exclusion from digital products such as internet and dental labs. disposed of or December 31, taxable income of capital gains home pages, media content, 2026. from the sale or exchange of an design and specifications, computer Accessory uses may include investment in an Opportunity software, advertising materials cafeterias, health facilities, parking A step-up in basis for capital Fund if the investment is and others. They primarily provide or other amenities primarily for gains reinvested in an held for at least 10 years. This products to other businesses. They the use of employees in the firm Opportunity Fund. The basis exclusion only applies to gains do not require customers or clients or building. Accessory uses may is increased by 10% if the accrued after an investment in to visit the site; any such visits are also include food membership investment in the Opportunity an Opportunity Fund. infrequent and incidental. distribution. Fund is held by the taxpayer
1300 SE 2ND AVENUE OFFERING MEMORANDUM KIDDER MATHEWS 11 SUBJECT PROPERTY
12 Kidder Mathews | Offering Memorandum | East Side Plating Building 12 KIDDER MATHEWS OFFERING MEMORANDUM 1300 SE 2ND AVENUE 1300 SE 2ND AVENUE OFFERING MEMORANDUM KIDDER MATHEWS 13 14 KIDDER MATHEWS OFFERING MEMORANDUM 1300 SE 2ND AVENUE AREA DEVELOPMENTS
NEARBY DEVELOPMENT AND USES
E BURNSIDE ST
OREGON SQUARE
TOWNE STORAGE FAIR-HAIRED DUMBBELL
525 SE MLK BLVD SE MORRISON ST
7 SE STARK ST 514 SE BELMONT ST SE 20TH AVESE
SUBJECT ODOT BLOCKS PROPERTY NE MLK BLVD GRAND AVESE 12TH AVESE
SE HAWTHORNE BLVD THE GLASS LAB
CLAY CREATIVE
1300 SE 2ND AVENUE OFFERING MEMORANDUM KIDDER MATHEWS 15 NE SISKIYOU ST
LEGACY
NE STANTON ST AVE RODNEY NE EMANUEL
MEDICAL NE KNOTT ST CENTER
NW FRONT AVE
NE THOMPSON ST
N INTERSTATE AVE
FREMONT BRIDGE NW VAUGHN ST NE HANCOCK ST
NW 25TH AVE 25TH NW NE BROADWAY ST WILLAMETTE RIVER NE WEIDLER ST NW RALEIGH ST AREA TRANSIT
NE MULTNOMAH ST NW NORTHRUP ST
NE HOLLADAY ST NW LOVEJOY ST NW 18TH AVE
NW 23RD AVE 23RD NW
NW 21ST AVE 21ST NW
STEEL BRIDGE NW GLISAN ST
NW EVERETT ST
SE GRAND AVE SE SANDY BLVD
W BURNSIDE ST BURNSIDE BRIDGE NE 12TH AVE 12TH NE
SW 20TH AVE
MORRISON BRIDGE WILLAMETTE RIVER
SE STARK ST
SW JEFFERSON ST SUBJECT PROPERTY HAWTHORNE BRIDGE
SW 12TH AVE SE MARKET ST SW NAITO PKWY
PORTLAND STATE SE BELMONT ST UNIVERSITY CAMPUS SW HARRISON ST
SW BROADWAY
OMSI LEGEND
SE DIVISION ST TILIKUM CROSSING
SW BARBUR BLVD
SW BROADWAY DR MA
BUS
OHSU
16 KIDDER MATHEWS OFFERING MEMORANDUM 1300 SE 2ND AVENUE DOERNBECHER
CHILDREN’S HOSPITAL AREA RETAIL
FOOD & DRINK
1 Water Avenue Coffee 26 Lardo
2 Noraneko 27 Kure Juce Bar 24 Stacked Sandwich Taqueria Lal Merced 3 3 28 Shop
21 2 25 4 Burger King E BURNSIDE ST RETAIL NE SANDY BLVD 5 New Cascadia 1 Wildfang 1 2 22 6 Coava Coffee Roasters 2 Cargo White Owl 23 7 3 Guardian Games 9 8 Afuri 4 Rejuvenation 9 Renata 6 3 5 River City Bicycles 7 10 Wasabi Sushi 6 Steven Smith Tea 5 11 Lucky Labrador Pub 17 18 7 Next Adventure
SE 12TH AVE 12 Burgerville Eastside Distilling SE MORRISON ST 8 SE GRAND AVE 2 13 Clarklewis Sheridan Fruit 27 8 9 16 3 14 Boke Bowl Company 14 13 15 Bunk Bar Water 1 4 HOTEL 15 Hair of the Dog 16 1 Jupiter Hotel SUBJECT 1 Brewing Company 9 20 PROPERTY 19 17 Le Bistro Montage 2 Jupiter NEXT 10 2 18 Dig a Pony 3 Eastside Lodge 6 7 SE HAWTHORNE BLVD 19 Pips & Bounce 11 OTHER Cascade Brewing NE MLK BLVD 12 26 20 28 4 8 4 Barrell House 1 Ladd Circle 3 Evolution Healthcare & 21 Rontoms 2 Fitness 5 22 Revelry 3 Revolution Hall 1 23 Wayfinder Beer 4 Helium Comedy Club Voodoo Doughnut 24 Too 25 Fire on the Mountain
1300 SE 2ND AVENUE OFFERING MEMORANDUM KIDDER MATHEWS 17 EXCLUSIVELY REPRESENTED BY
SCOTT MURPHY, SIOR 503.221.2287 [email protected]
KIDDER.COM