Posted Jan 17, 2024, 5:15 PM
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Moderator
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Join Date: Jan 2009
Location: Portland
Posts: 7,445
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Fabulous news
Quote:
Shuttered Portland Walmart sold for $20M. Here's what the new owners plan to do with it
PORTLAND, Ore. — Portland investors have purchased the former Walmart at Eastport Plaza for $20 million, with plans to turn it into a Hong Phat Supercenter, the Business Journal has learned.
Last March, Walmart closed the big box store at 4200 Southeast 82nd Ave. Earlier this month, Walmart Real Estate Business Trust sold the building to a group called Portland International Center LLC for $20 million, public records show.
Local real estate firm Ethos Commercial Advisors said in a social media post, without naming new owners, that it had sourced a five-year, nearly $15 million loan representing three-quarters of the 154,000-square-foot building's sale price.
Portland International Center, formed last September, is made up of Hoang Nguyen, Brandon Wang and the Huot Family Revocable Trust, according to state business filings.
Wang, founder and CEO of Hong Phat, said this will be the fourth Hong Phat in the Portland metro. The other stores are at 9819 Northeast Prescott Street and 101 Southeast 82nd Avenue in Portland, and 11655 Southwest Pacific Highway in Tigard.
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...continues at KGW. Longer story at the PBJ for those with a subscription.
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