A limited liability corporation, East Village Investors, has purchased 15.97 acres of land in Washougal for $7.08 million.
The sale, from DM Stevenson Ranch to East Village, includes the building occupied by Bi-Mart, at 3003 Addy St. and some of the surrounding land.
Greg Goforth, a commercial real estate broker with Coldwell Banker Commercial, Jenkins & Associates, represented the seller in the transaction.
In documents filed with the Secretary of State’s Office, Lone Wolf Investment LLC is listed as the governing member of East Village Investors LLC.
Wes Hickey, owner of Lone Wolf, indicated he does not have any specific plans for the land.
“The property was part of the downtown planning area,” he said. “We would be looking at master planning that, to be complementary to and cohesive with other downtown development.
“Master planning will involve us doing an assessment of street layouts, potential demand and overall layout of the property,” Hickey added. “We would undertake that ourselves.”
Meanwhile, Bi-Mart will continue to operate its store in Washougal. It opened in March 2001.
Bi-Mart Chief Financial Officer Dan Chin said from his office in Eugene, Ore., Monday, a typical Bi-Mart lease is 20 years, with four, 5-year renewal options.
The East Village purchase also includes the land currently occupied by the Donald and Angeline Stevenson Off Leash Area.
It will remain a dog park for the foreseeable future.
“We have not had any discussions with the city,” Hickey said. “The city leases the dog park. I don’t know their long term plans.”
Washougal Community Development Director Mitch Kneipp said, with the Town Center District designation, all uses are allowed unless prohibited. Prohibited uses include adult establishments, billboards, wrecking yards and outdoor storage of materials and equipment.
Other Lone Wolf properties include Washougal Town Square and 1887 Main.
