Salem Health Hospitals & Clinics purchased the former RAM Restaurant & Brewery property more than two months ago but has declined to disclose plans for the site.

“The current plan for the site is additional parking, with no further plans announced at this time,” Salem Health spokeswoman Lisa Wood wrote in an email. “The building is secured and monitored by Salem Health security.”

The not-for-profit health care organization, which includes Salem Hospital, bought the property at 515 12th St. S.E. during an online auction Nov. 10-12.

The starting bid was $500,000. Salem RAM Café Land Company LLC of Tacoma, Washington, was the seller.

Marion County deed records show that Salem Health paid $1.339 million for the property, which in 2025 had a total assessed value exceeding $2.46 million.

The property is on the edge of the massive Salem Hospital campus, which includes one of the busiest emergency departments on the West Coast, a Family Birth Center with advanced neonatal care, and a Cancer Center with a nationally accredited breast cancer program.

The 1.73-acre property was described as “Turnkey Brewery & Prime Development Land” in the online auction listing. It includes three parcels: a restaurant building on the corner with a dining room, lounge, brewing equipment and small parking lot; and two additional parking lots.

The parking lot parcels are to the south and west, with Salem Health facilities adjacent to each.

The west lot is between the former restaurant building and its parking lot and Salem Health’s Urgent Care Clinic that opened in 2005. Several of the 48 parking spots are still stenciled with “RAM ONLY” in faded yellow paint.

The RAM abruptly closed in June 2024 after more than 52 years in Salem.

The parking lot to the south of the restaurant and across Shelton Ditch is next to Building E (the Psychiatric Medicine Center) on the Salem Hospital campus. The lot has more than 50 parking spots.

Eight years ago, Salem Health purchased State Street property that included a surgery center and a coffee stand. Crews bulldozed both in 2024, and Salem Health declined to disclose what it planned for the site.

Then Salem Health last year sold the property to Koz on 14th LLC, which has submitted to the city plans to develop a four-story, 194-unit apartment complex.

Editor’s note: This article first appeared in the Statesman Journal and then was distributed on the USA TODAY Network via Reuters Connect.

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A Washington County shopping center has sold for $25.75 million.

Washington Square II, a smaller neighbor of Oregon’s largest mall, was snapped up by Intercontinental Real Estate Corp. and ScanlanKemperBard Cos.

The 86,636-square-foot shopping center sits on 8.03 acres. It comprises three single-story retail buildings constructed in 1984.

Washington Square II has a vacancy rate of less than 4 percent, stated Tyler Kepler, senior vice president at SKB.

“Washington Square II sits at the center of long-term demand drivers that continue to attract both tenants and capital,” Kepler stated in a news release.

Intercontinental and SKB plan to lead a renovation plan focused on capital repairs, cosmetic upgrades and leasing initiatives, the investors stated. Planned improvements include refreshed facades, new signage, heating and cooling upgrades and parking lot repairs aimed at improving the tenant and customer experience.

“The Portland suburbs continue to outperform the urban core, and Washington Square is the clearest example of that strength,” stated Todd Gooding, SKB’s president and chief investment officer. “This is one of the region’s most resilient retail nodes, characterized by strong household incomes, limited new supply and deep tenant demand — conditions we believe will continue to strengthen.”

CBRE’s Dino A. Christophilis and Daniel Tibeau represented the seller. According to Washington County records, the seller was a limited liability company, PPR Square Too, that is linked to Pacific Premier Retail Trust of Santa Monica, California. In 2024, Macerich, which also owns Washington Square Mall, announced it had taken a 40 percent interest in PPRT.

“Washington Square II attracted significant interest from investors, supported by strong retail fundamentals and the opportunity to reposition the asset to align with the adjacent Washington Square Mall,” Christophilis stated.

Tenants at the shopping center at 10250 S.W. Washington Square Road include Red Robin, Visionworks, DXL Big + Tall, World Market and Panera Bread.

The property’s visibility, tenancy and proximity to Washington Square Mall “provide a compelling foundation for lease-up and repositioning,” stated Ross Karetsky, associate director for acquisitions at Intercontinental.

SKB, based in Portland, was founded in 1993. The company owns and operates more than 5.5 million square feet of office, industrial, multifamily and retail properties.

Intercontinental is based in Boston and dates to 1959. The company manages a $12.6 billion real estate portfolio.

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The PacWest Center in downtown Portland has sold to an Alaska buyer at a steep discount, according to a report.

Willamette Week late Wednesday that the property sold for $55.7 million, or $101.64 per square foot. The price is less than half its most recent pre-pandemic transaction, but higher than the price for another iconic tower that recently sold.

A deed of trust filed with Multnomah County on Thursday shows the buyer used a $44.58 million loan from the First National Bank Alaska, based in Anchorage. Another public filing, the special warranty deed, shows the property sold for $10 “and other good and valuable consideration,” hiding the true purchase price.

Fountainhead Development, based in Fairbanks, Alaska, purchased the 30-story office building, the fourth-tallest building in Portland, from an entity linked to Lincoln Property Co.

The 547,992-square-foot building at 1211 S.W. Fifth Ave. was developed beginning in 1984 by Tokyo-based Mitsubishi Estate Co. and completed in 1988. It was extensively renovated in 2019. The sleek silver tower is well-known locally for its outdoor tree, planted on the 25^th floor.

The building last traded hands for $161.5 million in December 2007. Commercial real estate in Portland has traded at much lower prices since the pandemic emptied out downtown office towers. The city has approximately 9 million square feet of vacant office space.

PacWest’s recent sale gave it a significantly higher valuation than the U.S. Bancorp Tower — better known as Big Pink — earned when it sold for $45 million, or about $39.13 per square foot, in July.

Newmark Vice Chairman Nick Kucha, Senior Managing Director James Childress and Directors Kellen Kollmorgen and Jakob Nicholls represented the seller.

“PacWest exemplifies resilience and opportunity in Portland’s evolving office market,” Kucha said in a prepared statement. “With its transit-oriented location, market-leading amenity package and premium view space, the buyer recognized the tower’s ability to cater to both traditional and creative tenant requirements in a location with enduring demand drivers.”

The property is 50 percent leased, primarily by legal, banking, wealth and investment management firms, according to Newmark.

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