1401 Pansy Ln, Grants Pass, OR 97527

Merit Commercial Real Estate has been exclusively retained to market for sale 1401 Pansy Lane, otherwise known as The Flying Lark. The asset represents a generational opportunity to create the West Coast's next entertainment destination. As a corner of the Josephine County fairgrounds, this parcel was once a simple dirt parking lot and dirt bike track. Led by a small group of locals, The Flying Lark was born following a multi-year project of improving the existing Grants Pass Downs facility and constructing the asset.

The Flying Lark, named after Southern Oregon's famous thoroughbred race horse from the 1960's, was developed to the highest possible standard with the vision of becoming Southern Oregon's premier gaming, dining, and entertainment venue. A one-of-a-kind project, The Flying Lark consists of nearly 37,000 square feet of public area, bars, restaurants, banquet room, and security and admin spaces, and was designed to house 225 historical horse racing ("HHR") machines.

The building was completed in Spring 2022, shortly after a decision by the State of Oregon to not allow a privately-run HHR gaming facility at that time. As a result, the developers decided to hand back the keys to the just-completed facility to Josephine County, who owned the ground lease, and focus on other business opportunities. This complicated decision ultimately led to the facility remaining vacant to this day, just over a year later.

The property is now being offered on the open market for the first time, with additional acreage possibly available. The asset is available at a significant discount to replacement cost. While the existing property represents an entertainment-focused project, developers are by no means limited to this strategy. The site also lends itself to a variety of other uses, including retail, hospitality, or resort/lodge, all of which capitalize on the superior and luxurious construction quality of the asset.