Tualatin River & Pacific Highway Frontage Prime Commercial Acreage in Tualatin, Oregon Contact Ken Streater Re/Max Land and Homes Real Estate 800-311-4234 | www.PacificHwyProperty.com | 541-325-2027 Tualatin River & Pacific Highway Frontage Prim e Commercial Acreage Introduction The Tualatin River and Pacific Highway frontage prime commercial acreage is located adjacent to the City of Tualatin, at 17865 Pacific Highway (Hwy. 99), in Washington County, Oregon. Tualatin is located along the Interstate 5 corridor, approximately 15 minutes south of Portland. The four-lane Pacific Highway is the primary artery from a series of communities west of Tualatin to the Interstate 5 corridor and the cities of Beaverton, Tigard, and Portland. Daily commuter and recreational vehicle traffic is substantial. This parcel is found on the northeast corner of Pacific Highway and 124th Avenue and consists of 11.61 acres of which approximately 600 feet lie along the Tualatin River. It is made up of three separate tax lots, three zoning designations, and has historically recognized ingress and egress points to the Pacific Highway. The land is presently the site of the 30-unit Mobile La Vista Court manufactured home park owned by the Espedal Family Trust. The park is slated for closure in October 2007. This date was determined and deemed legally appropriate as the result of lawful closure processes by the members of the Espedal Family Trust, measures recognized by the State of Oregon. Originally designated as part of the Hazelbrook Farm, in 1973 Russell and Helen Espedal purchased their first section of land here and began excavation work to allow for development. Russell was a professional heavy equipment operator and jack of all trades who ultimately terraced the property to create three development plains. They later added additional parcels that led to the full 11.61 acres included today. In the early 1990’s Russell and Helen formed the Espedal Family Trust and placed all of this land in that name. After their passing their children took ownership of the land via the Trust and now offer it for sale. Zoning and Annexation As noted above, this property is presently located in Washington County and not yet in the incorporated portion of the City of Tualatin. It is currently zoned by Washington County as FD- 10. FD-10 is an umbrella designation that allows for future development on a 10-acre or larger site. FD-10 regulations state that: “The FD-10 District applies to the unincorporated portions of some city active planning areas where these cities are the only available source of urban services. The FD-10 District is in limited agricultural, forest, or residential use. The FD-10 District recognizes the desirability of encouraging and retaining limited interim uses until a need for more intensive urban land use activities develops and such lands are annexed to a city.” The City of Tualatin has shown a preference for this area to be zoned for mixed commercial and/or high density residential use. It concludes that this region is unique in terms of recreation, commercial, and historical use. It summarizes its preferred land use objectives by claiming that this area: “…is unique in character and history. It has served the needs of the traveling and recreating public for many years and forms a part of the history of the Portland metropolitan area. It is appropriate to continue the general land use pattern of highway and recreation oriented commercial activity in this area, even including the provision of housing in a mixed-use type of development.” 800-311-4234 | www.PacificHwyProperty.com | 541-325-2027 Tualatin River & Pacific Highway Frontage Prim e Commercial Acreage Based on the above historical, practical, and philosophical finding this property is presently considered by the City of Tualatin to be best zoned for High Density Residential, Commercial General and Recreational Commercial uses. As reflected in the code and the above statement of purpose, a wide variety of developments would likely be considered and allowed. There is no formal timeline for annexation into the City as directed by City officials, but indications are this property is very sought after by the City for inclusion into its incorporated area. The City has stated that intended development of this property will drive the annexation. Potential Development There are several exceptional reasons and many different opportunities on this prime development land. Considered uses for this large acreage parcel include a restaurant row, boutique motel, mixed retail and residential, and upscale multi-unit residential housing. Numerous strong property assets allow for consideration of a variety of developments: Location on a major commute and recreation highway Adjacency to the Tualatin river and open space Proximity to major metropolitan areas and large population bases Size of the parcel allows for mixed use or larger single development Topography that renders unique design opportunities Population boom in the northwest such as the 3000% growth in Tualatin from 1970 to 2000 Price $4,900,000.00 Additional Information For additional information please contact Ken Streater, RE/MAX Land and Homes; 1730 SW Parkway, Redmond, Oregon, 97756; 800-311-4234 or 541-325-2027; FAX: 541-923-7495; email Ken@CommercialPropertyOregon.com Financial statements for the manufactured home park are available. A confidentiality agreement included at the end of this packet must be signed and returned prior to receiving these statements. Other sources of information include: This property’s website (available 11/1/06): www.PacificHwyProperty.com Tualatin Zoning and Development Code: http://www.ci.tualatin.or.us/city/departments/legal/images/tdc/TDC6.pdf Washington County Zoning and Development Code: http://www.co.washington.or.us/deptmts/lut/LAND_DEV/CDC/comdev.htm Subsequent Pages Following are plat maps, property demarcations, and tax and ownership information and the confidentiality agreement. 800-311-4234 | www.PacificHwyProperty.com | 541-325-2027 Tualatin River & Pacific Highway Frontage Prim e Commercial Acreage 800-311-4234 | www.PacificHwyProperty.com | 541-325-2027 Tualatin River & Pacific Highway Frontage Prim e Commercial Acreage 800-311-4234 | www.PacificHwyProperty.com | 541-325-2027 Tualatin River & Pacific Highway Frontage Prim e Commercial Acreage 800-311-4234 | www.PacificHwyProperty.com | 541-325-2027 Tualatin River & Pacific Highway Frontage Prim e Commercial Acreage 800-311-4234 | www.PacificHwyProperty.com | 541-325-2027 Tualatin River & Pacific Highway Frontage Prim e Commercial Acreage 800-311-4234 | www.PacificHwyProperty.com | 541-325-2027 Tualatin River & Pacific Highway Frontage Prim e Commercial Acreage 800-311-4234 | www.PacificHwyProperty.com | 541-325-2027 Tualatin River & Pacific Highway Frontage Prim e Commercial Acreage CONFIDENTIALITY AGREEMENT IN CONTEMPLATION OF REAL ESTATE/BUSINESS PURCHASE AGREEMENT and acknowledgement between Espedal Family Trust/Mobile La Vista Court (Company) and _______________________________________ (Undersigned). Whereas, the Company agrees to furnish the undersigned certain confidential information relating to the affairs of the Company for purposes of purchasing said real estate/business; Whereas, the undersigned agrees to review, examine, inspect or obtain such information only for the purposes described above, and to otherwise hold such information confidential pursuant to the terms of this agreement; BE IT KNOWN, that the Company has or shall furnish to the undersigned certain confidential information and may further allow the undersigned the right to inspect the business of the Company and/or interview employees or representatives of the Company, all on the following conditions: 1. The undersigned agrees to hold all confidential or proprietary information or trade secrets ["information"] in trust and confidence and agrees that it shall be used only for the contemplated purpose, shall not be used for any other purpose or disclosed to any third party, except for accountants, attorneys, and other parties directly involved with determinations related to the purchase of the Company. 2. No copies will be made or retained of any written inf ormation supplied. 3. At the conclusion of our discussions, or upon demand by the Company, all information, including written notes, photographs, memoranda, or notes taken by you shall be returned to us. 4. This information shall not be disclosed to any employee or consultant unless they agree to execute and be bound by the terms of this agreement. 5. It is understood that the undersigned shall have no obligation with respect to any information known by the undersigned or generally known within the industry pr ior to date of this agreement, or becomes common knowledge within the industry thereafter. Signed: ________________________________ ________________________________ Espedal Family Trust Member Your Name Here ______________________Date______ ______________________Date______ Espedal Family Trust Your Signature Here 800-311-4234 | www.PacificHwyProperty.com | 541-325-2027
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