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An industrial property on the north edge of Portland’s Pearl District is for sale, but potential buyers should be prepared to play hardball.

The former Benson Industries Block, at 1415 N.W. 12th Ave., is listed for $6.7 million, and the owners, Tom Connor Jr. and Don Wooley of Spring Capital Owners, won’t settle for much less, if any.

The block sits on 0.92 acres and holds 30,000 square feet of industrial space constructed in 1979. The building was formerly a warehouse for Benson Industries, a design firm that also supplies and installs materials for building exteriors.

The structure will likely be demolished by the eventual owner to make room for a new commercial or residential development that better fits the Pearl District, said broker Todd Collins of Macadam Forbes. The site is two blocks away from the streetcar line and a lot that will eventually be the Fields Neighborhood Park.

Owners Connor and Wooley purchased the property in 2006 with intentions to redevelop it into a multifamily property as they had with previous sites – The Wyatt, The Avenue Lofts and the Marshall-Wells Lofts, all in the Pearl District.

But when the condominium market started to struggle, Connor and Wooley put their plans for the block on hold. Recently, though, they resumed planning a development they were not ready to discuss. However, they’re still willing to sell the property to potential buyers.

“They’d just have to pay us full price right now,” Connor said.

For more information on purchasing the former Benson Industries Block, contact Collins at 503-972-7283 or [email protected].