Stroh Brewery Company (SBC), based in Detroit Michigan, sold its brewery operations to Pabst and Miller in 1999. As a result, SBC needed to sell its Blitz Weinhard Brewery real estate holding, acquired in 1997, consisting of five city blocks in downtown Portland, Oregon. The disposition team quickly rose to the challenges of this opportunity and assessed SBC's needs for a timely disposition.

Challenge:

• Over 500,000 square feet of various structures existed on the five-block site, including two historical landmarks.
• The site's location, in downtown Portland's Pearl District, is a former industrial area undergoing urban renewal.
• Purchaser prospects' intentions for the site needed to closely match the city's renewal plan.

Services:

• Applied expertise and local market knowledge to determine level of compatibility between the qualified developers' intentions for the site and the city's plan for mixed-use, high-density infill within the district.
• Procured several full-price offers and qualified financial capabilities of development company prospects.

Results:

Due to the Colliers team's expertise and timely efforts, offers were procured, due diligence reviewed and closing commenced within twelve months at the full offering price of $19.5 million.

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