Lithia Motors buys Terminal 1 site for $12.5 million - KPTV - FOX 12

Lithia Motors buys Terminal 1 site for $12.5 million

Posted: Updated:
Terminal 1 site (KPTV) Terminal 1 site (KPTV)
PORTLAND, OR (KPTV) -

The Bureau of Environment Services announced Friday that the industrial site Terminal 1 in Northwest Portland has been sold to Oregon-based company Lithia Motors Inc. for $12.5 million.  

The bid made by Lithia Motors was $1.375 million higher than any of the other bids, according to the BES.

Terminal 1 is 14.5 acres of industrial land located on Northwest Front Avenue in the Northwest Industrial District of Portland.  

"I am pleased that Terminal 1 will be home to an Oregon-based company," said Commissioner Nick Fish. "This sale aligns with our commitment to maintaining Terminal 1 as prime industrial land and to the city's economic development strategy for the next 20 years."

The City of Portland had originally proposed and approved plans to turn the industrial site into a temporary homeless shelter in August.

The plan was then rescinded by the BES in November after City Council approved by a 5-0 vote to resume the sale of Terminal 1. 

Lithia Motors is the seventh largest automotive retailer in the U.S. and is headquartered in Medford. 

Copyright 2016 KPTV-KPDX Broadcasting Corporation. All rights reserved.

Powered by Frankly
FOX 12
Powered by WorldNow CNN
All content © 2017, KPTV-KPDX Broadcasting Corporation, Portland, OR . All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.