Ariston Development served as the development project manager for the redevelopment of 41st @ Hawthorne, an 11,000 square-foot multi-tenant retail site on trendy Hawthorne Blvd in Portland Oregon.
The project was a run down, blighted strip center with bars on the windows of a laundromat, head shop, and convenience store, known dubiously for criminal activity and frequent police calls.
One of the few commercial sites on Hawthorne with on-site parking, we took advantage of the highly desirable location of the project to create a high-visibility retail property with quality tenants and high long-term cash flow potential.
Special features of the project include arterial street-frontage in the heart of the Hawthorne retail district, roll-up garage doors perfect for a restaurant/café tenants, 13 parking stalls, and an onsite rain garden.
Accomplishments included saving over $283,000 in negotiated buyouts of existing tenants, and saving over $100,000 construction costs through value engineering. Other responsibilities included project budgeting, management of all project & construction activities including architectural review, contract administration, and negotiating new leases.
Ariston also asset managed a portfolio of five multi-tenant retail strip centers in three states for the same owner, with a total value of $21 million and total square-footage of 166,000 square feet.
