A painful but potentially rejuvenating process has come to an end on Poulsbo’s Viking Avenue.
A Kitsap County Superior Court judge approved a motion June 26 terminating receivership for the former Courtesy Auto Group properties.
All told, six parcels formerly owned by the Hern family have been sold since 2013, fetching about $4.6 million.
The properties were home to a number of Courtesy Auto dealerships, forming the core of Poulsbo’s once-bustling automotive corridor.
Union Bank successfully petitioned the court to appoint a receiver for the properties in 2011, seeking repayment of a $10 million loan made by Frontier Bank to the Herns in 2009. Union Bank took over the loan after Frontier failed in 2010.
Here’s a look at the Courtesy Auto properties sold and what businesses are there now:
1. Chevrolet building — $1.4 million
Sold on: April
10, 2013
Sold to: Christina and Scott Hensrude
Current assessed value: $1.09 million
Description: 1.43 acres with a 16,350-square-foot showroom at 19873 Viking Ave. NW, on the southwest corner of Edvard Street and Viking.
Now home to: Abra Auto Body and Glass.
2. Suzuki building — $375,000
Sold
on: Sept. 23, 2013
Sold to: Janice and Kevin Krieger, and Lisa and Steven Stirrett
Current assessed value: $239,100
Description: One-third acre with a 1,600-square-foot showroom at 19568 Viking Ave., across from the Food Mart and Los Cazadores.
Now home to: A smoke shop and hookah lounge called Up In Smoke.
3. Fleet building — $475,000
Sold
on: March 3, 2014
Sold to: SGBT Investments
Current assessed value: $459,050
Description: 1.1-acre parcel and 1,480-square-foot building at 19955 Viking Ave. on the northwest corner of Edvard Street and Viking.
Now home to: A Hudson Auto Center used car dealership.
4 & 5. John Deere and detail buildings — $700,000*
Sold
on: March 25, 2014
Sold to: Washington Tractor
Current assessed values: $323,000 (John Deere) and $218,570 (detail building)
Description: Two acres totaling 1.5 acres, and 6,500-square-feet of building space at 20054 and 20096 Viking Ave. NW, across from the former Courtesy Ford.
Now home to: A Washington Tractor dealership, which first leased the space in 2011.
* The purchase price was offset by nearly $300,000 in credits to the buyer to account for environmental issues at the site, according to the receiver’s report.
6. Ford building — $1.98 million
Sold
on: Jan. 5, 2015
Sold to: Chris and Laurie Morgan
Current assessed value: $1.94 million
Description: A 1.83-acre parcel and 38,000-square-foot showroom at 20081 Viking Ave.
Now home to: American Building and Roofing. Hudson Auto Center also expanded into a portion.
The receivership included a seventh property owned by the Herns on 10th Avenue, just south of Central Market. Union Bank intended to foreclose on that property, according to the final receiver report, filed May 20.
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