Terminal 1 Sold
August 28, 2017
Terminal 1 North in Northwest Portland
Terminal 1 Aerial View
Today, the Bureau of Environmental Services (BES) finalized the sale of Terminal 1 to Lithia Motors, an Oregon-based Fortune 500 company.
The sale is a triple win: it preserves scarce industrial land, generates good family-wage jobs, and delivers a solid return for ratepayers.
Lithia Motors purchased Terminal 1 for over $11 million. BES used the site during the Big Pipe project, which eliminated most stormwater overflows into the Willamette River and Columbia Slough.
Terminal 1 will continue to be a productive part of Portland’s working waterfront for years to come.
BES Press Release
City Sells Terminal 1 for $11.125 Million
Jim Redden in the Portland Tribune
City Finalizes Sale of Terminal 1 to Lithia Motors
Anna Marum in The Oregonian
City to Sell Terminal 1 to Lithia Motors for $11.1 Million
City Seals $11.1M deal to Sell Terminal 1 Property
Jon Bell in the Portland Business Journal