The University may (or may not) have its eye on University Texaco, an abandoned gas station property next to 7-Eleven on Franklin Boulevard. The land is currently owned by Peter Kryl Investments, and Peter Kryl, a property manager, said he has been in contact with the University’s private Portland land purchasing company for “a couple years.” He said although the University did not have the financial resources to purchase the property years ago, it does now and all that stands in the way is a purchasing price agreement. Kryl said the school wants to pay less than the asking price.
“They want it, they just want to get it as cheap as possible,” Kryl said. “It’s just a matter of time.” He declined to disclose the asking price.
Brian Smith, assistant vice president for administration, could not provide any information pertaining to the matter.
Although Kryl is cooperating with the University at this point, he does not want to sell the property. He has plans to develop it and hasn’t done so because he knew the University was interested. Kryl also said if he and the University are unable to come to an agreement, the University may take him to court.
Kryl has owned University Texaco for 25 years. The gas station was built in the ’60s, and there was also a video store on the property for 17 years. The property used to include the area where 7-Eleven now stands, but it was reduced in 1983.
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