Fred Meyer Stores, Inc. purchased the retail lot at 4718 SE 82nd Ave. in Portland, OR for $1.5 million from Rimfire Investments LLC.
The parcel was acquired for the land value, and the building on the property will be demolished. A Fred Meyer full-service gas station will be built on the property, which will be associated with the Fred Meyer store at 5253 SE 82nd Ave., located three blocks away. This project is in line with Fred Meyer's aim to service Portland by pairing Fred Meyer supermarkets with service stations.
The 31,185-square-foot (0.72-acre) lot sits on the corner of Schiller St. in the Clackamas / Milwaukie submarket of Multnomah County.
Alex MacLean of Commercial Realty Advisors NW represented the buyer. There was no listing broker involved in the sale.
Please see CoStar COMPS #2904610 for more information on this transaction.