- 14 - G. Petitioner's Lease of the 4200 S.W. Corbett Street Property Petitioner is located at 4200 S.W. Corbett Street, Portland, Oregon (4200 S.W. Corbett St. property). Before moving to 4200 S.W. Corbett Street, petitioner leased buildings at 4343 and 4321 S.W. Corbett Street (old property). Petitioner leased the old property from Mr. Cummings, doing business as Blackstone,3 under an oral, month-to-month lease. The buildings on the old property had about 15,000 square feet. Petitioner paid rent of $10,000 per month to Mr. Cummings. In 1986, Mr. Cummings leased the 4200 S.W. Corbett St. property from the American Red Cross for 12 years with an option to buy. The 4200 S.W. Corbett property was a three-story, wood frame building with about 33,631 square feet, a detached shop and storage building with 3,969 to 4,050 square feet, and an annex or residence with about 2,400 square feet. Mr. Cummings paid rent of $8,164.61 per month ($97,975 per year) to the American Red Cross. He agreed to pay real estate taxes, maintenance, and insurance expenses on the property. The lease did not require Mr. Cummings to perform major repairs. The 4200 S.W. Corbett St. property was zoned for high density multifamily residences. Before Mr. Cummings leased the 4200 S.W. Corbett St. property from the American Red Cross, 3 Mr. Cummings did business in the name of "The Blackstone Co." (Blackstone) before and during the years in issue.Page: Previous 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Next
Last modified: May 25, 2011