Alas, they do not hold title. Not yet. Opus and Center Oak aredeep in exclusive negotiations with quarry owner Washington Countyto purchase the property in exchange for the right development anda stake in the upside. What Opus has so far offered for theproperty has not yet been revealed.

Despite the expectations for a January sale agreement, BruceWood, senior director for Opus Northwest, tells GlobeSt.com thereare a number of different possible outcomes. "They are consideringa ground lease arrangement, buying certain parcels, or selling itall to somebody else and splitting the profits," says Wood. "Itcould be any of that."

Regardless, Wood says the plan is to wrap up negotiations bymid-January and this spring begin a year's worth of sitedevelopment before breaking ground on 427,000-sf of retail in 2003and following up with 450,000 sf of office. The project is beingmarketed as Bridgeport Village, "a mixed-use lifestyle center."