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Correction: Palmer Investments Acquires 4.5 Acres in Lloyd District

Santa Monica-Based Developer Acquires Parcel Adjacent to Lloyd Center
January 24, 2018
Palmer Investments, Inc., a Santa Monica, CA-based development company, acquired a 4.5 acre lot in the Lloyd District of Portland, OR, where it plans to develop a mixed-use property across the Lloyd Center development. Arrow Retail sold the vacant lot for an undisclosed price.

The site is adjacent to Interstate 84/U.S. Hwy. 30, located in close proximity to the Regal Lloyd Center IMAX Theater, Holladay Park and the Lloyd Center/N.E. 11th Ave. MAX station.

Although exact details on the proposed mixed-use property were not disclosed, local media outlets have reported that the multifamily portion of the project will consist of 689 units.

Paige Morgan and Buzz Ellis of JLL brokered the transaction on behalf of the seller.

Please see CoStar COMPS #4103181 for more information on this transaction.

Editor's Note: This article was corrected from an earlier version, which identified the buyer as Bren Palmer. It since has been updated to reflect Palmer Investments, Inc. as the true buyer.
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