N70SJ Posted February 9, 2017 Share Posted February 9, 2017 I would like to lease 1,000 SF retail space at SE 10th and Hawthorne to a Reef Store. My other retail spaces on Hawthorne are spoken for but I'm holding on to the last 1,000 SF for a Reef store because I think it would be fun. The space would be in the center of building with roll-up doors to Hawthorne. There could also be a 500-700 SF mezzanine in the space. Message me if you know of anyone or need additional information. Thanks! Sent from my iPhone using Tapatalk Quote Link to comment Share on other sites More sharing options...
NanoDrummer09 Posted February 9, 2017 Share Posted February 9, 2017 but how much is rent.... didn't a east side LFS just move west side? Idk the reasons but i bet cost had a major roll. Quote Link to comment Share on other sites More sharing options...
Jeremevans Posted February 9, 2017 Share Posted February 9, 2017 Hows the parking in the area? ...not that I am about to open a store. Quote Link to comment Share on other sites More sharing options...
N70SJ Posted February 9, 2017 Author Share Posted February 9, 2017 Rent is $35 SF + $5NNN or $3,950 Mo. I bought the whole block less the SE 1/4 so I have 20,000SF now for parking. Parking will be on 10,000SF on the N side of bld. Yes.....If you don't have a lot parking is tough. Sent from my iPhone using Tapatalk Quote Link to comment Share on other sites More sharing options...
N70SJ Posted February 9, 2017 Author Share Posted February 9, 2017 Close-in SE Hawthorne is on its way to surpass the Pearl. The amount of construction is staggering. High end condo's over retail are exploding. The pearl ran out of dirt. Sent from my iPhone using Tapatalk Quote Link to comment Share on other sites More sharing options...
Dragon Posted February 10, 2017 Share Posted February 10, 2017 While I'd love to see a reef shop there (since it's close to where I work) I would think that rent would be too high for a reef shop. I just don't see a reef shop in that location being able to stay afloat paying that kind of rent. Maybe if they grew corals on one side of the shop and cannabis on the other.... Even that might be tough with Pharma right there. Quote Link to comment Share on other sites More sharing options...
N70SJ Posted February 10, 2017 Author Share Posted February 10, 2017 The change in annual income per person in the area of: The Willamette river to the West, Belmont St to the North, SE 39th to the East, And Powell to the South. I don't have the exact # of high-end condo's ie: $400/SF sale prices and high-end apartments ie: $2-$3/Sf rent. The majority of future move-ins will most likely have Six digit income and substantial disposable income to afford the best this hobby can offer. Sent from my iPhone using Tapatalk Quote Link to comment Share on other sites More sharing options...
N70SJ Posted February 10, 2017 Author Share Posted February 10, 2017 Lol, I don't rent to weed shops. They dispense improperly and the Fed's can seize your Building. Sent from my iPhone using Tapatalk Quote Link to comment Share on other sites More sharing options...
N70SJ Posted February 10, 2017 Author Share Posted February 10, 2017 One of the Main reasons that area is exploding is because for the 1st time in over 25 years the State of Oregon is making substantial changes in the "sacred" comprehensive plan, taking effect 1st 1/4 of 2018. For example that area has many buildings in the "Industrial Sanctuary". Industrial buildings that now can only have Heavy-Industrial users. In 2018 Buildings zoned Industrial can no have 5,000 SF retail and 5,000 SF general office and most importantly unlimited "Creative Office". Now a Architect for example making plans will be considered a industrial producer. So that opens the doors wide open for a huge new supply of high-Income workers that was not possible before. Keep an eye on that area. I'm confident you will be amazed. Sent from my iPhone using Tapatalk Quote Link to comment Share on other sites More sharing options...
Fisher15 Posted February 10, 2017 Share Posted February 10, 2017 You mean to say that government regulations were holding back development for no good reason???? I am really surprised! 4 Quote Link to comment Share on other sites More sharing options...
N70SJ Posted February 11, 2017 Author Share Posted February 11, 2017 Don't get me started on that subject[emoji23] Sent from my iPhone using Tapatalk Quote Link to comment Share on other sites More sharing options...
N70SJ Posted February 11, 2017 Author Share Posted February 11, 2017 Hey. Dragon got me thinking about affordability for a reef shop. I am going to put fifty 40 Ft shipping containers fitted for creative office and retail on the NE quarter of the block: Above and to the right as pictured below from the Hawthorne space: I will have spaces of: 160 sq ft 320 sq ft 480 sq ft 640 sq ft Up to 1,920 sq ft. Some will face Madison with full glass store fronts. More affordable. As low as $995/mo. Sent from my iPhone using Tapatalk Quote Link to comment Share on other sites More sharing options...
N70SJ Posted February 11, 2017 Author Share Posted February 11, 2017 Overall it will be layed out like this: Sent from my iPhone using Tapatalk Quote Link to comment Share on other sites More sharing options...
pledosophy Posted February 11, 2017 Share Posted February 11, 2017 That looks pretty awesome actually. Rent in PDX is high. When my lease went to renew back in October our new owner tripled it and then added a grand on top of it. I am sure you will be able to lease it.Those creative spaces look very interesting though. Please keep in touch when you get close to having them ready. 1 Quote Link to comment Share on other sites More sharing options...
Dragon Posted February 11, 2017 Share Posted February 11, 2017 Nice, that seems more doable for a reef shop. I love container builds too! I work at a creative studio right down the street and it's been amazing to see how much change has taken place in the area. 1 Quote Link to comment Share on other sites More sharing options...
N70SJ Posted February 11, 2017 Author Share Posted February 11, 2017 That looks pretty awesome actually. Rent in PDX is high. When my lease went to renew back in October our new owner tripled it and then added a grand on top of it. I am sure you will be able to lease it. Those creative spaces look very interesting though. Please keep in touch when you get close to having them ready. [/quote What do you lease? Sent from my iPhone using Tapatalk Quote Link to comment Share on other sites More sharing options...
N70SJ Posted February 11, 2017 Author Share Posted February 11, 2017 Nice, that seems more doable for a reef shop. I love container builds too! I work at a creative studio right down the street and it's been amazing to see how much change has taken place in the area.Cool, We should have lunch sometime and talk tanks-n-RE. Sent from my iPhone using Tapatalk Quote Link to comment Share on other sites More sharing options...
pledosophy Posted February 11, 2017 Share Posted February 11, 2017 What do you lease? Currently I am not leasing anything, but I shared a 5000 sq ft creative work/photography studio space with several other photographers for a couple years in Downtown Portland. 2 Quote Link to comment Share on other sites More sharing options...
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