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Huge Nw Portland Landowner ConWay Sold For Three Billion
Dated: October 1 2015
The largest landowner in one of Portland's emerging neighborhoods has been sold.
Greenwich, Connecticut-based XPO Logistics (NYSE: XPO) purchased Con-way (NYSE: CNW) in early September for $3 billion. The move makes XPO one of the largest trucking and transportation logistics companies in the U.S.
Con-way was founded in Portland in 1929 as Consolidated Truck Lines, but moved its headquarters to the San Francisco Bay Area in the 1950s. Its head office now sits in Ann Arbor, Michigan.
Con-way owns 17 blocks totaling 17.5 acres in Northwest Portland's Slabtown neighborhood, not far from the Pearl and Alphabet districts. The tract is largely paved and undeveloped, stretching between N.W. 22nd and 19th avenues and N.W. Upshur and Pettygrove streets.
The company is in the process of selling and developing pieces of the sweeping property as demand for close-in, mixed-use projects rises in Portland. A New Seasons grocery store opened in the area in early August.
It's unclear at this time what impact, if any, Con-way's sale will have on its Portland property.
For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 30 years in the industry, Mark has gained experience in ....
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