Seven companies have submitted bids to buy a big industrial lot at the edge of the Pearl District that was once set aside for a homeless shelter. And in a strange twist to the ongoing saga, one company has asked the city to throw in a famous statue to boot.
The Portland City Council voted in November to put the land known as Terminal 1 back up for sale.
The Bureau of Environmental Services, which owns the property, posted the six bids it has received online Wednesday. Each is in the ballpark of $10 million.
The bids include a proposal from Oregon-based Lithia Motors, one the country’s largest car dealerships. It’s eyeing Terminal 1 for its new Portland headquarters.
Lithia offered $10 million for the site and suggested the city move its iconic Portlandia statue to the industrial site along the river to welcome “seafarers and the world to our beautiful city,” as part of the deal. The statue currently perches above the entrance to the Portland Building downtown.
Big real estate firms headquartered in Texas and San Francisco also made $10 million offers. And two Portland-based developers, Tom Cody and Jim Winkler, are trying to buy the site.
Winkler had earlier proposed building affordable apartments on the site. In a new letter to the city, Winkler said he didn’t think he could get the city council to approve re-zoning the site, and submitted a new offer to buy Terminal 1 for an industrial project.
Below is the list of bidders on the Terminal 1 site:
- Lithia Real Estate — $10 million
- InterUrban Development — $10 million
- Lincoln Property Company — $10 million
- Prologis — $10 million
- Tandem Development Corp — $10.5 million
- Cody Development Corp — $10.05 million
- Winkler Development Corporation — $10.35 million
Editors note: the number of bids for Terminal 1 has been updated.