The Rocket Empire Machine’s owners are seeking a buyer for the fully leased food hall building at 6935 NE Glisan Street. Commercial Black Real Estate recently listed the property for $2 million, offering a turnkey investment for the right operator. After extensive renovations by Guerrilla Development in 2020, the former 1950-era automotive repair building began hosting five food and beverage-related businesses. Since its opening, tenants have remained stable, with only one recent turnover caused by the closing of The Pie Spot.
The property’s asking price does not include the corner parking lot parcel at 6977 NE Glisan Street. The developer split the 2,363-square-foot property from the REM project during construction planning. Kevin Cavenaugh’s Guerrilla Development company intended to create a two-story, 11-unit, single-room occupancy (SRO) building called Jolene’s Second Cousin on the vacant lot. The COVID pandemic halted that project, and the paved lot has served as surface parking for REM customers since the food hall opened. The REM building’s real estate flyer indicates the parking lot property is also available for purchase separately.
The REM food hall is a significant anchor point for Montavilla’s portion of NE Glisan Street. It provides an accessible third-place within walking distance for many area residents living north of E Burnside Street and keeps the street active into the evenings. Its shared indoor seating and a covered outdoor courtyard often host social and community gatherings alongside a consistent customer base. Gigantic Brewing’s Robot Room offers micro-brewery drinks at the site, rounding out the casual dining experience and cultivating an environment welcoming an extended stay on the property.
Portland’s commercial real estate market has struggled to rebound fully post-pandemic, and Kevin Cavenaugh has subsequently experienced a few publicized setbacks in other developments. In a June 2024 City Cast Portland episode, he spoke candidly about his dire economic circumstances and how he remains optimistic about Portland’s development culture despite his own troubles. Cavenaugh explained that most of his projects would remain viable investments, but he knew he would not retain ownership of them when the dust settled.
Interested buyers should contact John Gibson by phone at 503-860-3267 or email john.gibson@commercialblack.com. The future owner of this property will gain a low-maintenance multi-tenant space with relatively new commercial kitchens and a built-in customer base. Any sale will likely have little immediate impact on Rocket Empire Machine or its tenants, but the future of the adjacent undeveloped lot is far less certain.
