CBRE is pleased to present The George, a unique mixed-use asset located along NW 23rd Avenue, Portland's most coveted retail corridor. The property features 10 fully renovated two-bedroom townhome units averaging 1,323 square feet, alongside 16,344 square feet of fully leased commercial space anchored by SnowPeak's flagship store, Takibi restaurant, and SnowPeak's North American Headquarters. The entirety of the commercial space is leased to SnowPeak, who recently signed a 5-year extension. Investment highlights include: - Institutional-Quality Renovations: $11.135 million in recent building, renovation, and tenant improvements, with upscale residential renovations completed in 2016 at $60,000 per unit. - Stable Retail Income: Fully leased commercial space with a recently signed 5-year Snow Peak renewal through August 2031 — at blended rents 22% below market, providing meaningful upside at renewal. - Premier NW 23rd Avenue Location: Situated along Portland's highest-rent retail corridor with a 97 Walk Score and 84 Bike Score, offering unmatched visibility and foot traffic. Recent leases along NW 23rd have been in the $50-$60/SF NNN range, well above the average in-place rent for the commercial space at the subject property. Please reach out to Matt Dodd, Sam Lawhead, or Wes Bochner for more information and/or to tour.