February 14, 2019
The Sunshine Dairy building, which consists of a full city block, and two adjacent parcels in NE Portland, OR, has been sold. Portland-based NBP Capital, LLC acquired the property for $8.1 million from Karamanos Holdings, Inc.
Built in 1940, the 44,448-square-foot building and adjacent parcels make up 1.2 acres at 801, 915 and 959 NE 21st Ave. Originally developed as a production facility for the dairy, it was vacated following secession of production operations in 2018. The new ownership intends to demolish the existing structure and vertically develop a new mixed-use project.
NBP Capital’s Ryan Fiegelson says, “Our business plan will consider vertical development of the Sunshine Dairy site. When we first saw this deal, we were initially drawn to the rapid transition and development of the immediately surrounding area.
CBRE’s Charles Safley, Josh McDonald, Joe Nydahl and Phil Oester negotiated and arranged the deal on behalf of the seller.
For comments, questions or concerns, please contact Dennis Kaiser