106 and 107	Commercial Development Sites Across from Wal-Mart Supercenter Lebanon, Oregon	Sealed Bid Auction Details

DESCRIPTION: This 6.29± acre commercial development site is located along South Santiam Highway 20 in the Willamette Valley community of Lebanon, across from the Wal-Mart Supercenter, and next to a new Walgreens. It is part of an 11.9± acre mixed-use development designed to attract retail and commercial uses that would benefit from highway exposure and traffic generated by the new Wal-Mart Supercenter. The property is ready for development and can be purchased in its entirety, or in two parcels of 4.79± acres and 1.5± acres in size, subject to partition approval by the city of Lebanon. The other unimproved parcel across from Walgreens on Burdell Avenue has been purchased by the OSU Federal Credit Union.

Both development parcels and the Walgreens site share a right in/right out entry from South Santiam Highway, with secondary access from Burdell Drive. Average daily traffic was 13,000 vehicles per day in 2005, with an estimated 10,000 households within a seven-mile ring of the property, with almost 40% of those households having incomes over $50,000, according to a market area report. Over the last five years, Lebanon has attracted a Lowes Distribution Center that employs 625, and Western University of Health Sciences, a new medical college to open in 2011 with 100 students and a projected enrollment of 1,100 students. This will be the first new medical college opened in Oregon in over a century and is located across from Samaritan Lebanon Hospital. The Mixed Use zoning, adopted in 2008, will allow a variety of retail service and commercial uses. (Zoning, survey and market data reports are contained in Supplemental Information Package.)

LOCATION: Burdell Avenue and Santiam Highway 20. The site is located next to Walgreens at 3300 Burdell Avenue. Tax Lot 100.

Please Note: Sketch plan is conceptual only. Neither the Seller nor its agents have submitted plan or made any applications to a public agency.

SEALED BIDS DUE NO LATER THAN 5:00 P.M., APRIL 28, 2010

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