CANNON BEACH — Sandpiper Square, the iconic shopping complex that anchors downtown Cannon Beach, has been sold to Salem-based entrepreneur and investor Roger Yost for $4.2 million.
Yost purchased the property from Coaster Properties LLC, the company that developed the complex in 1973 along with other well-known properties like the Coaster Theatre Playhouse, Mariner Market and the U.S. Bank Building.
Yost is a former marketing executive at Jantzen, a Portland-based swimwear company, who lived in Arch Cape for nearly 30 years before purchasing and restoring landmark Salem properties like the Reed Opera House, Capitol Center and Alessandro’s Restaurant building in 2003. All three were sold in the last three months in an attempt to move back to his coastal roots, Yost said.
“I didn’t build any sandcastles, but I definitely have watched many be built,” Yost joked, referring to the town’s long-running Sandcastle Day celebration. “I’ve had a long connection with Cannon Beach. When I sold my house in Arch Cape, I instantly regretted it.”
Yost said he intends to keep almost everything about Sandpiper Square as is. Part of what made the sale attractive, he said, was the building’s balance of shops and services ranging from art, apparel, gifts, fitness and health.
“Because it’s been owned by a construction company, it’s been kept beautiful and up to date. At this point, we want to preserve what is already there,” he said. “The tenants are in such good shape, I’m not sure any changes are really needed in the immediate future.”
With his purchase of Sandpiper Square, Yost hopes to expand his relationship with the local gallery scene. He also owns Roger Yost Bay Street Gallery on the Newport bayfront, and said he hopes to work with other gallery owners in the complex to integrate some of the international artwork he has into the Cannon Beach art scene.
“Cannon Beach’s reputation is known far and wide (as an arts community), and part of (buying Sandpiper Square) was wanting to connect with the art community,” Yost said.
As for community traditions like the lamp-lighting ceremony around Christmas? Don’t worry, he said, those events will stay.
“We love that the way it is. We just will try to make the future a little bit brighter if we can,” he said.