Nai Nbs Brokers Sale Of Block 296; Redevelopment Will Feature New Seasons Market And 115 Apartments
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The sale of Block 296 at NW 21st and Raleigh has closed, paving the way for a mixed-use redevelopment anchored by New Seasons Market. NAI Norris, Beggs & Simpson President Chris Johnson and Vice President MaryKay West represented the seller, Con-way, Inc. Vice President Robert Black represented the buyer, C.E. John Company.
The 2-acre property, which includes a 36,000 sf warehouse that was built in 1952, is located between NW 21st and 22nd Avenues and Raleigh and Quimby Streets, and its redevelopment has been dubbed Slabtown Marketplace.
“Securing an anchor tenant such as New Seasons has been the goal of Con-way since the inception of this project, and having such an amenity will help catapult the remainder of the development,” Johnson said.
New Seasons Market will occupy 28,000 sf of the remodeled warehouse, which will celebrate many of the building’s original features such as large “sawtooth” roof skylights and long-span wood trusses. It will be the local natural grocer’s 15th store. Construction is expected to begin on the New Seasons in early 2014, and the new store will open in spring 2015. Plans for the site also call for a 115-unit mixed-use, LEED Gold apartment building with approximately 10,000 sf of ground-floor retail, as well as an elaborate pedestrian plaza in front of the New Seasons store.
C.E. John Company is a local, third generation, family-owned company founded in 1946 that specializes in mixed-use projects, retail development, property management, and commercial construction. They have two other mixed-use projects under construction in NW Portland: The Franklin Ide at NW 23rd and Lovejoy, and Sawyer’s Row at NW 20th and Raleigh. The company also recently completed The Benevento at NW 23rd and Raleigh Street.
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