A two-year dispute came to an end this week over a piece of prime waterfront real estate on the southwest Oregon coast.
Representatives of Pacific Seafood Group, the nation’s largest seafood company, agreed to buy their way out of the remaining 67 years on a 100-year lease they signed with the Port of Bandon.
Pacific Seafood has paid $468 per month for a 13,000-square-foot building on a 1.3-acre waterfront lot since the lease was signed in 1976. Port officials originally agreed to the below-market lease because the site was being used to process fish by Pacific Seafood, creating dozens of jobs for the community. But in recent years, the company has ceased the fish processing operation and has only been operating a retail market on the site.
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