North Bonneville, WA. – SVN | Bluestone & Hockley, one of the nation’s premier net lease brokerage firms, has completed the sale of a 99,215-square foot, 78-unit, resort & spa spanning across 34 acres in North Bonneville. Brian Resendez, CCIM, Managing Director of SVN | Bluestone & Hockley brokered the sale of Bonneville Hot Spring Resort and Spa for $15.45 million.
FRN Washington, LLC purchased the resort and spa, located at 1252 E. Casacade Drive, with plans to redevelop the property into a rehabilitation treatment center.
“The Bonneville Hot Springs Resort and Spa was among the most exciting transactions we have worked on so far. The property was well built and offered many unique amenities that served as a value add for the buyer,” said Resendez. “The transaction was successful due to strong and creative deal crafting, and always being present to our client in resolving any challenges that surfaced in the deal-making process.”
Located 45 minutes outside of Portland, OR, North Bonneville is home to the massive Bonneville Lock Dam and Powerhouse constructed in 1933. Traditionally an area within the Pacific NW that sees limited inventory available to purchase within the hospitality sector in recent year. The town is uniquely positioned along the Colombia George National Scenic Area offering access to hot springs, privacy and serenity.
About SVN | Bluestone & Hockley:
SVN | Bluestone & Hockley is an independently owned and operated SVN® office. The SVN organization is a globally recognized commercial real estate entity united by a shared vision of creating value with clients, colleagues and our communities. The SVN Brand is comprised of over 1,600 Advisors and staff in more than 200 offices across the globe. Our brand pillars represent the transparency, innovation and inclusivity that enables all our advisors to collaborate with the entire real estate industry on behalf of our clients. SVN’s unique Shared Value Network® is just one of the many ways that SVN advisors create amazing value with our clients, colleagues and communities. For more information, visit www.svn.com.