High-end grocer anchors new Beaverton project
BEAVERTON, Ore. -- Upscale grocer Market of Choice will anchor Timberland Town Center, a new retail development in Beaverton's fast-growing Cedar Mill area.
Gramor Development Inc. announced today that Market of Choice will occupy 40,000 square feet at Timberland, a 90,000-square-foot shopping center slated to break ground in August at Northwest Cornell and Northwest 118th Avenue, known informally as the former Teufel Nursery Inc. property.
The $30 million project will provide a commercial and community center for one of the city's fastest-growing residential neighborhoods. It will be Market of Choice's ninth location.
Homebuilder Polygon Northwest purchased the Teufel property and to date has constructed about 750 homes. It currently is developing about 350 apartments. Gramor came in to complete the commercial portion of the development.
The area, just north of Highway 26, is sandwiched between the heavy employment centers of downtown Portland and westside employers such as Providence St. Vincent Medical Center, Columbia Sportswear, Tektronix and Intel Corp.
"There's just a ton of demand for residential product. Therefore there's a bunch of demand for retail services," said Cain.
Gramor and Polygon Northwest previously teamed at South Beaverton's Progress Ridge TownSquare. Polygon developed housing and Gramor developed the New Seasons Market-anchored retail center.
Timberland construction begins in August with the center slated to open in late 2014. The Beaverton Planning Commission approved the development plan earlier this month.
LRS Architects is the designer. New & Neville Real Estate Services is the leasing agent.
Gramor has not selected a contractor. Cain declined to identify the construction lender because the loan is still in the process of closing. The project will employ about 150 construction workers.
It is the second big announcement in a less than a week for Tualatin-based Gramor, arguably Portland's most prolific retail developer.
Last week, it disclosed that Wal-Mart Stores Inc. has signed on to anchor its $50 million Sherwood Town Center project.
The Portland Business Journal is a KATU news partner.
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