Griffith Development LLC has bought the gym housing the Beaverton Family YMCA for $1.28 million, a sale that closed Monday afternoon, according to Dann Wonser, real estate broker at Macadam Forbes.
The previous property owner, Pardee Properties, managed by Tami Pardee, sold the site at 4925 S.W. Griffith Drive after settling a $1.5 million lawsuit with the YMCA of Columbia-Willamette.
In the lawsuit, Pardee alleged that the nonprofit broke its lease agreement by persuading members to join a competing gym and failing to repair or replace equipment.
As part of the settlement, the gym will close July 29 and transfer gym membership, group exercise programs and older-adult programs to the Beaverton Hoop YMCA. By the end of August, the YMCA will no longer have any financial obligations with Pardee.
Griffith Development, an investor, plans to remodel the site and reopen it fall 2012, according to Bruce Patton, YMCA vice president.
— Dominique Fong Follow @BvrtnReporter