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2375 NW THURMAN ST
- YEAR BUILT: 1938
- SQUARE FOOTAGE: 15,200 (property)
- MARKET VALUE: $2.97 million
- OWNER: The Real Good Food Store Inc.
- HOW LONG IT STOOD EMPTY: 1 year and 9 months
- WHEN WE WROTE ABOUT IT: Aug. 23, 2023
WHY WE WROTE ABOUT IT: For 50 years, the Food Front Cooperative Grocery was a mainstay of Slabtown. In April 2023, however, the co-op closed its doors and announced it was in significant financial duress. Vendors were owed money, and the co-op had fallen behind on its loans. Over the subsequent year and a half, the co-op’s board was beset by controversy, board turnover, allegations of bad faith, and prospective buyers that fell through. At the heart of the strife was a concern by some co-op members that a buyer would tear down the hundred-year-old building and erect high-rise condominiums. Market of Choice put in an offer to buy the building, but the board rejected it, saying it was a lowball bid.
WHAT’S CHANGED: In September 2024, WW reported that the board was in a fight over the proposed sale of the building for $2.55 million to real estate investor and managing company K-5 Urban Holdings LLC, which owns nearby properties. Despite disgruntlement among some members over the vote, the board went forward with the K-5 deal. On Nov. 11, the board and K-5 entered into a sale contract that expires in 120 days. Board president Roman Shvarts says K-5 has promised to try and find a grocer to fill the space, though as neighborhood newspaper NW Examiner recently reported, some co-op members are skeptical of that pledge. In an online survey distributed to members last month, the board asked members where they would like the sale proceeds to go. Options included: other Portland co-ops, the newly announced James Beard Public Market, or the nearby nonprofit Friendly House. But should the K-5 sale fall through, Shvarts told WW in a phone call this week, the board has a backup plan. “Things are on track for the sale,” he says, “but we do have Plan B in place.” Shvarts declined to say what exactly Plan B was.