City to sell Terminal 1 to Lithia Motors for $11.1 million
PORTLAND, Ore. —
The city of Portland announced Monday that it has officially sold the Terminal 1 property to Lithia Motors for $11.1 million.
The land sits along the industrial waterfront in Northwest Portland.
The deal for the property was reached in December but was finalized Monday.
The land was previously used as a construction area for the Big Pipe Project, which was built to help reduce the flow of sewage into the Willamette River.
At one time the city was considering using the property for a homeless shelter but the city eventually killed the idea, and instead, voted in November 2016 to sell it.