DOWNTOWN PORTLAND DEVELOPMENT OPPORTUNITY 0.12 ACRES • SW PORTLAND • 35 POTENTIAL APARTMENTS

2809 SW Water Avenue & 30 SW Meade Street

Investment Real Estate OFFERING MEMORANDUM www. hfore.com • (503) 241.5541 SW WATER + MEADE STREET APARTMENT SITE 0.12 ACRE PARCEL • DOWNTOWN PORTLAND

The Water Avenue offering is an exceptional opportunity to acquire a centrally located, high-density development site in downtown Portland – one of the strongest apartment markets in the nation.

Just minutes from the city’s Central Business District, Portland State University and the trendy Pearl District, the Water Avenue property is also adjacent to the National University of Natural Medicine and is ideally situated for young professionals and students. The property boasts Walkscore.com rankings of 80 points for walking, 83 points for transit and 87 points for biking. Other nearby walkable destinations include: • The Portland Farmer’s Market at PSU • Keller Auditorium • The Portland Art Museum • (home of the Portland Timbers)

• The South Waterfront and OHSU’s Collaborative Life Architect’s Rendering Sciences Building

The Water Avenue land is zoned for High- Density Residential use, which generally allows for a 4-to-1 PROPERTY HIGHLIGHTS FOR MORE INFORMATION floor area ratio and a 75-foot height limit. The sellers Price: $1,300,000 ($250 psf) Lee Fehrenbacher • [email protected] have preliminary plans for a 6-story, 35-unit apartment Site Size: 5,208 sf / 0.12 acres Greg Frick • [email protected] complex with ground-floor lobby, bike parking, and Zoning: RH – High Density communal area. The zoning’s tall height limit paired with 2424 SE 11th Avenue the property’s naturally elevated position above SW Height Limit: 65’ Portland, 97214 Kelley Avenue would provide future tenants unparalleled Parcels: R128817 & R128816 www.hfore.com views of the downtown cityscape, the Willamette River (503) 241.5541 and Mt. Hood. Fax: (503) 241.5548 Please do not disturb tenants.

2 HFO INVESTMENT REAL ESTATE Pearl District Lloyd District Downtown Portland Mt. St. Helens SW WATER + MEADE STREET APARTMENT SITECentral Eastside 0.06 ACRE PARCEL • DOWNTOWN PORTLAND

South Water Front

405 5

Pacific Hwy W

SW Naito Pkwy

SW Water Ave

SW Kelly Ave

SW WATER + MEADE STREET APARTMENT SITE AERIAL VIEW TO THE NORTH Development Site 0.12 ACRES • SW WATER + MEADE STREET APARTMENT SITE • PORTLAND, OR 3 SW WATER + MEADE STREET APARTMENT SITE AERIAL VIEW TO THE NORTH FROM 6TH FLOOR

Downtown Portland

Pacific Hwy W

SW Naito Pkwy

SW Kelly Ave

4 HFO INVESTMENT REAL ESTATE SW WATER + MEADE STREET APARTMENT SITE AERIAL VIEW TO THE EAST FROM 6TH FLOOR

Mt Hood

Tillicum Crossing Ross Island Bridge

Roberson Life Sciences Building

SW Macadam Ave

0.12 ACRES • SW WATER + MEADE STREET APARTMENT SITE • PORTLAND, OR 5 SW WATER + MEADE STREET APARTMENT SITE AERIAL VIEW TO THE SOUTHEAST Willamette River South Waterfront Ross Island Bridge Center for Health and Healing

Portland Aerial Tram

5

SW Hooker St SW Corbett Ave

SW Kelly Ave

Development Site 6 HFO INVESTMENT REAL ESTATE SW WATER + MEADE STREET APARTMENT SITE AERIAL VIEW TO THE WEST

Headquarters

National University of Natural Medicine

Pacific Hwy W

Development Site SW Kelly Ave

0.12 ACRES • SW WATER + MEADE STREET APARTMENT SITE • PORTLAND, OR 7 POTENTIAL APARTMENT RENDERINGS

The sellers have created early plans for a 6-story, 35-unit apartment complex. Units range in size between approximately 350 and 450 square feet and would feature unparalleled views of Downtown Portland, the Willamette River and Mt. Hood. The ground floor includes lobby, mail room and bike parking areas. Additional plans available upon request.

8 HFO INVESTMENT REAL ESTATE DOWNTOWN - NORTH OF THE PROPERTY

Bridgeport Brewing Good Samaritan Hospital Union Station Papa Haydn Steel Bridge NW Glisan St Oregon Williams-Sonoma Convention Center Restoration Hardware NW Everett St 84 Deschutes OLD TOWN Brewing CHINA TOWN W Burnside St Burnside Bridge

Portland Saturday Market

SW 23rd Ave SW 23rd SW Washington St Lincoln High School SW Broadway 5 405 SW Alder St

GOOSE HOLLOW WILLAMETTE RIVER Pioneer Morrison Bridge Ave NE Grand Washington Courthouse Park SW Park Ave Square DOWNTOWN NE Martin King Jr Blvd Luther

26 SW Clay St Portland Art SW Madison St Museum NW Naito Pkwy SW Market St SW Jefferson St Tom McCall Waterfront Park 99E Hawthorne Bridge

Portland State University

0.12 ACRES • SW WATER + MEADE STREET APARTMENT SITE • PORTLAND, OR 9 PORTLAND DOWNTOWN: MAJOR EMPLOYERS

Portland International Airport

Development Site

10 HFO INVESTMENT REAL ESTATE PORTLAND DOWNTOWN: LIFESTYLE AMENITIES

Lloyd Center Columbia River Gorge Mt Hood

Pioneer Place Keller Auditorium

Development Site

Portland Public Library

Rose Garden Washington Park

0.12 ACRES • SW WATER + MEADE STREET APARTMENT SITE • PORTLAND, OR 11 PORTLAND MARKET SNAPSHOT

3.8% $68,125 3.84% 48.2% Unemployment rate Median household income Year-over-year rent growth* Portland residents age 25+ years (June 2019) (with a bachelor’s degree or higher)

21,345 4,474 4.95% 38.3% New Portland residents Portland residents Metro-area vacancy Metro area renter- (2016-2018) per square mile occupied housing rate

*Multifamily NW Apartment Report (April 2018-2019)

12 HFO INVESTMENT REAL ESTATE PORTLAND/VANCOUVER MSA MARKET

EMPLOYMENT

Attracted by Portland’s educated workforce and UNEMPLOYMENT RATE relatively low cost of doing business, high-tech ANNUAL: PORTLAND/VANCOUVER METRO AND U.S. (December 2012 - December 2018) companies continue to relocate or open major branches. Companies with major operations 12% include: Amazon, Airbnb, Google, Squarespace, Mozilla, Simple (HQ), SurveyMonkey, SalesForce, CD Baby (HQ), eBay, and New Relic, Inc. 10%

Portland’s homegrown tech companies include: 8% • Act-On • AWS Elemental 7.6% 7.9% • Brandlive 6.7% 6% 6.3% • 5% 5.6% 5.6% • Electro-Scientific Industries Percentage 5.0% • Expensify 4% 4.6% 4.7% • FLIR Systems 4.0% 4.1% 3.6% 3.8% 3.9% • Form Factor • Jama Software 2% • Janrain • Laika Entertainment • 0% • Pop*Art 2012 2013 2014 2015 2016 2017 2018 • Puppet Labs • Portland U.S. • Simple Source: Multifamily NW Apartment Report • Tektronix In June, 2019, the Portland unemployment rate was 3.8% the same as one year earlier. • Thetus • Tripwire The metro area’s healthcare sector continues to expand, most notably on Portland’s South • Urban Airship Waterfront with significant additional clusters of specialty research and treatments in numerous • Vacasa new OHSU office towers. • Viewpoint

0.12 ACRES • SW WATER + MEADE STREET APARTMENT SITE • PORTLAND, OR 13 HEALTHCARE OREGON HEALTH AND SCIENCE UNIVERSITY The nationally-prominent Oregon Health and Science University (OHSU) is Oregon’s only public academic health center. As such, it leads the way in government-funded healthcare—and secures numerous grants for the advancement of health sciences. OHSU was founded in 1887, and currently has 2,796 faculty supporting 4,070 students and trainees. OHSU also offers joint programs with Portland State University, Oregon State University, and the Oregon Institute of Technology. OHSU has a $4.3 billion impact on Oregon’s economy, and supports nearly 34,000 jobs. Its annual operating budget is $2.8 billion.

OHSU is nationally ranked by US News and World Report for 7 specialties and 7 children’s specialties.

OHSU educates health professionals and scientists, and provides cutting-edge patient care, community service and biomedical Oregon engage in lifelong learning in OHSU’s In July of 2014, OHSU opened the Collaborative research. Its hospitals and clinics serve over continuing education programs, which occur Life Sciences Building (CLSB) and Skourtes a quarter of a million patients yearly with yearly and focus on dentistry, medicine, nursing Tower in the South Waterfront. Skourtes Tower innovative care and treatment models based and child development. is the new home for the OHSU School of on the most up-to-date knowledge available. Dentistry, while the CLSB is an integrated space Among OHSU’s specialties are pediatric care, meant for students and faculty from OHSU, PSU, OHSU’s four missions are healing, teaching, based at the renowned Doernbecher Children’s and Oregon State University. OHSU has spent discovery and community outreach/public Hospital. This hospital focuses on bone and millions of dollars over several years building service. Its university prepares students for joint care, cardiology, cancer and blood up its South Waterfront campus to include the biomedical and science education through its diseases, surgery and neurology—services Knight Cancer Institute and additional facilities Office of Science Education Opportunities, which that can be difficult to find in the pediatric field. offering support to patients’ families. collaborates with other OHSU departments and OHSU serves a large number of low-income community partners. Over 17,000 practicing children and families in the metro area—often healthcare professionals across the state of free of charge.

14 HFO INVESTMENT REAL ESTATE HIGHER EDUCATION RIGHT NEXT DOOR PORTLAND STATE UNIVERSITY Founded in 1946, PSU is an urban research In 2014 PSU celebrated the opening of In March 2017, Portland State, Portland university in the heart of downtown Portland. the 650,000-square-foot Collaborative Community College, and OHSU Its 50-acre campus contains 50+ buildings Life Sciences building on the South announced that they are working with and serves over 27,000 undergraduate and Waterfront. A joint effort between PSU, the city to build a $100 million, 200,000 graduate students. The school’s most popular Oregon Health and Science University square foot building on the corner of SW majors include Psychology, Health Studies, and Oregon State University, the $295 4th Avenue and Montgomery Street. The Biology, Art & Design, and Accounting. PSU has million facility is located just one mile new building will be home to PSU’s Graduate eight schools with a total of 226 programs. south of campus and is expected to bring School of Education, PCC’s dental programs, approximately 3,400 students, faculty the OHSU-PSU School of Public Health, and a Since 2014, PSU is Oregon’s only university and medical professionals to the area Portland city bureau. The plan for the site also to offer a Four-Year Degree Guarantee, which every day. includes restaurants, low-cost mental health promises full-time freshmen the support and services, and a community dental clinic. It is courses they need to graduate in four years— scheduled to open in September 2020. or they won’t be charged additional tuition.

U.S. News & World Report has consistently named Portland State University one of the nation’s top “up-and-coming” universities, including in its 2015 Best Colleges rankings. In 2017 PSU is ranked in ninth place in a list that recognizes “the most promising and innovative changes in the areas of academics, faculty, student life, campus, or facilities.” PSU also has top-ranked programs in the areas of urban planning and public affairs, speech language pathology, education and engineering, among others.

From 2002 to 2012, the university’s student body grew 47 percent to 29,703 people. That growth has created a significant need for housing downtown, even as the city is trying Development Site to address a regional housing crunch. As of the 2016-2017 school year, only 10% of students at PSU live in on-campus housing.

0.12 ACRES • SW WATER + MEADE STREET APARTMENT SITE • PORTLAND, OR 15 CLOSE-IN PORTLAND SUBMARKET A variety of employment opportunities are Since the 1990s, companies that have moved DEMAND GENERATORS found throughout close-in Portland. Major their world, North American or U.S. headquarters institutions include hospitals (OHSU, Legacy to Portland include Adidas, Daimler Trucks, Portland is consistently ranked as Hospital, the Portland VA Medical Center and KinderCare and Keen. Other close-in Portland- Providence); government employers including based companies are Umpqua Holdings, one of the world’s greenest cities. In federal, state, city and county; Portland Public Weiden+Kennedy, NW Natural, PacifiCorp, 2016 Travel+Leisure magazine ranked Schools, Portland State University, and major PGE, New Seasons, Storables, McMenamins, banks, grocery store chains, retailers and hotels. McCormick & Schmick’s, Franz Bakery, Portland Portland as the #1 most pedestrian Close-in Portland is packed with technology Brewing, Stumptown Coffee, Banfield Pet companies and start-ups. Many large and small Hospital, Powell’s Books, ZGF Architects and and transit-friendly city and the 14th employers like Vestas, Microsoft, and others the major west coast law firms Stoel Rives and friendliest city in the . have established offices in brand-new, or Schwabe, Williamson & Wyatt. recently redeveloped, buildings in the Pearl. With reviews like that, it’s easy to understand why the area’s population NET JOB GROWTH BY INDUSTRY continues to increase. Companies DECEMBER 2018: YEAR-OVER-YEAR continue to relocate to Portland, and CONSTRUCTION 5,300 7.5% area employment is on the rise. FINANCIAL ACTIVITIES 1,000 1.4%

HEALTH CARE & SOCIAL ASSISTANCE 11,400 8.0%

INFORMATION 800 3.2%

LEISURE & HOSPITALITY 3,200 2.6%

MANUFACTURING 4,900 3.9%

PROFESSIONAL & BUSINESS SERVICES -2,700 -1.5%

TRANSPORTATION & WAREHOUSING -300 -0.7%

Source: Qualityinfo.org Job Growth (#) Job Lose (#)

16 HFO INVESTMENT REAL ESTATE CLOSE-IN PORTLAND SUBMARKET PUBLIC TRANSPORTATION Portland’s close-in neighborhoods and regions include Alberta Arts District, Belmont, All of downtown and close-in Portland is the Central Eastside, Division/Clinton, Downtown, Hawthorne, Lloyd District, Mississippi/ accessible by public transit that includes an Williams, NW Portland/Nob Hill, Old Town Chinatown, the Pearl District, South Waterfront extensive (and expanding) light rail system and Sellwood-Moreland. and streetcar and a national award-winning POPULATION GROWTH BY COUNTY public bus system. Portland is ranked among the most bicycle-friendly cities in the world, 2010 to 2017 with approximately 8% of commuters biking to work—the highest proportion of any major Portland 647,805 U.S. city. Currently, TriMet is working on a plan 64,006 583,799 to add a new MAX light rail line that would connect Downtown Portland to Tigard in Multnomah County 807,555 Washington County. 72,386 735,169

RECENT AREA CONSTRUCTION & ACTIVITY Washington County 588,957 Planning for additional construction in the 59,093 529,864 South Waterfront area continues. The $160 million Oregon Collaborative Life Sciences Clackamas County 412,672 Building wrapped up construction in 2014. 36,678 375,994 Over 30 additional acres are in various stages of development along the South Waterfront. Deschutes County 186,875 In September, 2015, the area began service on 29,142 157,733 a $135 million transit, bicycle, and pedestrian bridge across the Willamette River known as the Marion County 341,286 Tillikum Crossing. 25,943 315,343

Many areas of close-in Portland continue to Lane County 374,748 experience growth, rejuvenation and renewal. 23,035 351,713 New apartments are under construction all over the City of Portland. Despite the uptick in Jackson County 217,479 203,206 building, a shortage of apartments, along with 14,273 2017 population and economic growth, are expected 2010 Clark County, WA 474,643 to keep apartments in high demand. Change 49,283 425,360

0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000

0.12 ACRES • SW WATER + MEADE STREET APARTMENT SITE • PORTLAND, OR 17 PORTLAND METRO SNAPSHOT

PORTLAND REGION Oregon’s largest city, Portland, is near the confluence of the Willamette and Columbia Rivers. The Portland Metro Area consists of four counties: Multnomah, Washington, Clackamas, and Clark County, Washington.

APARTMENT MARKET DIVERSIFIED ECONOMY TOP 10 LISTS The Portland Metro Area consistently ranks Portland is home to the headquarters of among the nation’s lowest for apartment Fortune 500 companies Nike and Lithia Motors. Portland consistently receives glowing vacancy rates according to the U.S. Census Fortune 1000 companies headquartered here reviews and rankings from the media. Bureau and other third-party services like REIS, include , Greenbrier Cos. MPF Research, and Axiometrics. The U.S. Census and Portland General Electric. Fortune 500 2018 lists include: Bureau pegged Portland’s Q3 2018 vacancy rate companies based outside Oregon with major • #1 Restaurant City of the Year (Bon Appetit) at 4.5% and the U.S. average at 7.1%. operations here are Precision Castparts and • #1 Best Foodie City in America (Wallethub & . Travelpulse) #6 (Jetsetter) REIS forecast 2018 Portland metro year-over- year rents growth at 3.0% and the Multifamily Tech and software companies continue to • #3 Healthiest City in the U.S. (Active.com) NW Apartment Report survey proved average relocate their operations here or open major • #4 Best City for Biking (Fast Company) October 2017-18 year-over-year rent growth outposts in Portland. These companies enjoy • #5 Best Bike City in America (Bicycling at 3.3%. Portland’s educated workforce, affordable high Magazine) quality of life, and a low cost of doing business • #5 Fittest Cities in America (American College SKILLED WORKFORCE & STRONG EMPLOYMENT compared to the Bay Area. of Sports Medicine) In a 2018 WalletHub report comparing 150 Companies which have opened major • #6 Best Place to Live in the U.S. (CNBC/U.S. of the largest U.S. metros, Portland is listed as branches in Portland include Airbnb, Google, News) the 15th most educated city in America. More Squarespace, Mozilla, Simple, Survey Monkey, • #9 Top City for Entrepreneurs and Start-Ups than half of Multnomah County workers have SalesForce and New Relic, Inc. Portland’s (Business.org) #23 (CNBC) a college degree, well ahead of the national tech startup companies include Viewpoint, • #10 Greenest City in America (Newsweek) average of 38.5%. Jama Software, Thetus, Urban Airship, Acquia, • #10 Most Entrepreneurial State (Amazon.com) Elemental Technologies, Act-On, Puppet Labs, According to the State of Oregon’s Employment • #15 Most Educated City in America and The Clymb. Department, Portland enjoys one of the fastest (Wallethub) job growth rates in the , and • #19 Best Large City in America, 59th best the entire nation. Data indicates the area added city in the World (Best Cities.org) 31,000 jobs in 2016, 28,000 jobs in 2017, and 29,000 in 2018.

18 HFO INVESTMENT REAL ESTATE PORTLAND MARKET SNAPSHOT MAJOR EMPLOYERS GOVERNMENT SPORTSWEAR HEALTHCARE AND RESEARCH The U.S. Federal Government is Portland Nike has its world headquarters in Beaverton Health services are another major employment metro’s overall largest employer, with 20,500 and employs 12,000 Portland-area residents. The sector for the Portland area. The top healthcare workers. The State of Oregon gives employment company designs, develops and manufactures employers in the area are Providence Health to an additional 14,000 residents. footwear, apparel, equipment and accessories. Systems, with 17,543 employees, and The From here, Nike orchestrates production and Oregon Health Sciences University (OHSU), HIGH TECH & CHIP MANUFACTURING design for one of the world’s most recognizable with 16,200 workers. OHSU is the recent Attracted by the Portland area’s educated brands. In 2019 Nike will complete a $1 billion recipient of a total of $1 billion in donations workforce and relative low cost of doing expansion of its Washington County campus. for cancer research from over 10,000 Oregon business, tech companies continue moving donors. Grants from the National Institutes of to Portland—opening major branches and, in Nike’s two key competitors have a major local Health totaled $182.7 million in 2016. some cases, relocating to the area entirely. presence as well. Those employers include the North American headquarters of Adidas with MANUFACTURING With over 19,300 employees, Intel is the area’s 1,200 employees, and a new 70,000 SF outpost In trucking and transportation, Daimler Trucks— largest private employer. Intel acquired its of Under Armour. Under Armour has moved with nearly 3,000 area workers—has big plans for first Portland location in 1974. The company 100 employees into an iconic former YMCA. the Portland area. The company recently spent is currently expanding its presence with $150 million renovating its Portland facility and forthcoming D1X microprocessor chip facilities invests heavily in research and development, at the Ronler Acres Campus in Hillsboro. This including autonomous driving. is part of a five-year, $6 billion expansion, and is part of the company’s long-term plans for growth. Intel is the largest property taxpayer in Washington County, with payments of approximately $30 million a year.

Other notable Portland-area high-tech companies include ON Semiconductor and Tektronix.

0.12 ACRES • SW WATER + MEADE STREET APARTMENT SITE • PORTLAND, OR 19 TOP AREA EMPLOYERS

20,000 area employees 12,400 area employees 12,000 area employees Intel is the area’s largest private Kaiser has 35 medical facilities, In 2019 Nike wraps up a $1 billion employer. Recently, following a 16,658 area employees 18 dental offices and 1,400 expansion of its Beaverton world five year, $6 billion expansion, the doctors in the Pacific Northwest. headquarters. The company company unveiled vast, long- Oregon Health Sciences It employs more than 10,000 added 1.3 million square feet of term plans for future growth. University (OHSU) leads the in the Portland metro region office space and parking for 3,300 way in government-funded and serves 11.8 million vehicles. healthcare — and secures members nationally. Kaiser numerous grants for the is headquartered in Oakland, advancement of health sciences. California. OHSU recently acquired a $1 billion gift for cancer research.

Grants from the National Institutes of Health have held steady from around $184 million in 2011 to $219 million in 2017. 7,600 area employees With nearly 50,000 students, Portland Public Schools is Oregon’s largest district. Portland 18,286 area employees is currently in the midst of 11,250 area employees a massive voter-approved Providence is a non-profit high school and middle network of hospitals, health Legacy is a locally-owned school reconstruction and plans, physicians, clinics and nonprofit based in Portland, modernization program. related services. It operates in Oregon. It is the only health Alaska, Washington, Oregon, system covering the Portland/ In 2017 voters approved $790 Montana and California. It was 7,741 area employees Vancouver area south to Salem million in taxes to rebuild one originally founded by the Sisters offers one-stop with multiple hospitals and a middle school and three high of Providence in Montreal shopping at 133 department hospital dedicated to exclusively schools. Quebec in 1843. stores in four western states. serving children.

20 HFO INVESTMENT REAL ESTATE JOB GROWTH BY INDUSTRY MSA PORTLAND According to the State of Oregon Employment Department, the Portland Metro region created jobs at the rate of 1.6% in 2018. Portland ranks 16th among the 50 largest metropolitan areas in the United States.

Among the influx of companies to the Portland metropolitan area—including many who have transplanted their world, North American or U.S. headquarters here—are Adidas, Daimler Trucks, KinderCare and Keen.

Other significant companies in the close-in Portland metro area include Umpqua Holdings, Weiden+Kennedy, NW Natural, PacifiCorp, PGE, New Seasons, Storables, McMenamins, McCormick & Schmick’s, Franz Bakery, Portland Brewing, Powell’s Books, ZGF Architects, and two major West Coast law firms: Stoel Rives and Schwabe, Williamson & Wyatt.

Full time employment increased 1.8% between March 2018 – March2019, an increase of 21,800 positions. Below is an overview of net job creation by industry from March 2018 through March 2019:

4,500 Manufacturing Construction, 2,800 Mining, Logging Leisure & Education & 2,500 6,100 Health Services Trade, Transportation Hospitality 3,200 & Utilities Healthcare & Social 2,000 Assistance

0.12 ACRES • SW WATER + MEADE STREET APARTMENT SITE • PORTLAND, OR 21 TRANSPORTATION SYSTEMS

INTERSTATE HIGHWAY SYSTEM VANCOUVER WASHINGTON 9 miles (20 min.) Portland has three interstate highways running through it: I-5, I-84 and I-205. These freeways COLUMBIA RIVER help mitigate the amount of congestion on city streets. Portland International I-5 runs the length of the entire West Airport 5 Coast between the U.S. borders with 12.8 miles (30 min.) Canada and Mexico. I-84 runs east and west, with its 30B Development Site 99E 84 western terminus at I-5. From there OREGON 84 it heads east through the suburbs of Gresham and Troutdale, and to the PORTLAND 26 DOWNTOWN scenic Columbia River Gorge on its 405 way to its eastern terminus east of Salt Lake City, Utah. BEAVERTON GRESHAM 7.9 miles (20 min.) 17.3 miles (30 min.) I-205 is a 37-mile bypass running 26 205 north-south skirting downtown 8 Portland to the east. It begins in 205 Vancouver, Washington, and ends 213 south of Portland in Tualatin, Oregon. 217 This helps commuters avoid traveling through downtown Portland. TIGARD 10.6 miles (2 min.) I-405 is an additional 4.25-mile 210 405 highway connector on the west side 224 of downtown Portland. 5 LAKE OSWEGO Hwy. 26 runs east and west, with its 10.9 miles (18 min.) 26 western terminus on the Oregon Coast. Hwy. 26 is an expressway and is part of the Mount Hood Scenic Byway. Its eastern terminus is OREGON CITY Ogallala, Nebraska. 15.2 miles (25 min.)

22 HFO INVESTMENT REAL ESTATE TRANSPORTATION SYSTEMS PUBLIC TRANSIT The Portland/Vancouver metro area including Clackamas county and The Green Line was completed 2009 connecting Clackamas, along the City of Happy Valley, is well served by an outstanding public transit Interstate 205, to the Gateway Transit Center. The 8.3 miles of track system. In 2015, TriMet, the area’s public transit agency, made a number provides transportation between 8 additional stations before connecting of upgrades to the area’s transit options. These upgrades addressed the to the previously built I-84 track. concerns of residents and workers who depend on bus and light-rail train service to get to and from jobs, schools and other daily events. • The Blue Line continues through downtown Portland to the cities of Beaverton and Hillsboro SW Park + Columbia street Apartment site is within 2 blocks of both • The Red Line terminates at the Portland International Airport MAX light rail and the Portland Streetcar lines. • The Green Line connects to Clackamas Town Center The MAX Blue Line was the first of the light rail’s five separate projects to be • The Orange Line is the MAX’s newest extension and connects to the City built, and was the first federally funded light rail project that used money of Milwaukie initially earmarked to build freeways. The initial 15 miles of the Blue Line W I opened in 1986, with 30 rail stops that connect downtown Portland with L L A M the City of Gresham. E T T E

R I

V E

R

MAX Blue Line MAX Green Line MAX Orange Line MAX Red line DOWNTOWN MAX Yellow Line PORTLAND WILLAMETTE RIVER GRESHAM HILLSBORO BEAVERTON

Portland Streetcar A Loop Development Site Portland Streetcar B Loop Portland Streetcar North South Line CLACKAMAS

0.12 ACRES • SW WATER + MEADE STREET APARTMENT SITE • PORTLAND, OR 23 Lloyd District Pearl District Mt. St. Helens Downtown Portland

South Water Front

SW Naito Pkwy

SW Kelly Ave

Pacific Hwy W Development Site

24 HFO INVESTMENT REAL ESTATE DOWNTOWN DEVELOPMENT OPPORTUNITY 0.12 ACRES • PORTLAND, OREGON PRICING TOURS AND INQUIRIES Price: $1,300,000 ($250 psf) Please do not disturb tenants. Site Size: 5,208 sf / 0.12 acres All tours and inquiries regarding The SW Portland Development Site are to be directed to HFO Investment Real Estate at (503) 241.5541. Zoning: RH – High Density Height Limit: 65’ Lee Fehrenbacher • [email protected] Parcels: R128817 & R128816 Greg Frick • [email protected] Jack Stephens • [email protected] Tyson Cross • [email protected] Todd Tully • [email protected] Adam Smith • [email protected] Rand Hoffman • [email protected] Khari Gates • [email protected]

Brokers licensed in Oregon and Washington.

0.12 ACRES • SW WATER + MEADE STREET APARTMENT SITE • PORTLAND, OR 25 HFO Investment Real Estate Passion • Collaboration • Specialization

2424 SE 11th Avenue • Portland, OR 97214 www.hfore.com • 503.241.5541

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Parties who receive this information from unauthorized parties shall not be recognized. ©2019 HFO Investment Real Estate LLC. Build your legacy is a service mark of HFO Investment Real Estate. Licensed in the states of Oregon and Washington.