SQUELCHING RUMORS: Trader Joe’s Has Not Yet Purchased Marginal Way Property

By Carol McCracken (Post # 472)

Contrary to rumors that have been circulating in the area for months and have intensified in the last several days, Trader Joe’s has not purchased property located at 87 Marginal Way, Portland. This conclusion was reached after MHN.com did a search of the records which would have indicated such a transfer had taken place. The current owner of the property is 87 Marginal Way, LLC.

For sometime now, there has been interest in the Portland area for Trader Joe’s to occupy what was the former Wild Oats organic food store at 87 Marginal Way. Because of monopoly concerns when Whole Foods, Somerset Place, bought out Wild Oats, the FTC became involved.

The FTC needs to give approval to the sale of the property before such a transaction can occur. This has not happened so far. Many people believe that it will happen and soon. Over 500 people contacted the FTC in support of the Trader Joe’s move and the FTC must respond to each of them before the decision can be made. In the meantime, MHN.com believes that an unofficial nod has been given to the California retailer to begin preliminary work; paperwork.

In fact, Trader Joe’s applied for a business license with the city on May 10 and that approval could be given within the next week or two.

For more details, please visit post # 469 herein.