X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ASTORIA, OR-A 12.4-acre, undeveloped parcel along the Columbia River here that has long defied the developer’s shovel has a new owner. Astoria Business Park LLC, comprised of Randy Stemper and Harry Henke, purchased the land earlier this fall for $685,000, according to county records. They hope to sell the land to a developer who can actually make something happen on the site bordered on the north and south by the Riverwalk and Leif Erikson Drive, respectively, and on the west and east by 38th Street and 41st Street.

The property has been sitting vacant for as long as most can remember. In the 1960s, the city raised the land by filling it with dredge materials. But its zoning as marine industrial didn’t lend itself to general commercial uses, and neither, apparently, has its rezone to general industrial some seven years ago.

Its former owner, Bergerson Enterprise, has seen come and go proposals for a motel, a supermarket and a manufactured home park for seniors. Companies have gone so far as to tie down the property and make payments on their option, but nothing has ever come of it. The city’s addition of more dredge materials to the property last year may have it in danger of a lawsuit, but the new owners are reportedly working on a new use for the site.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.