BEND, ORE. (August 5, 2014) — Compass Commercial Real Estate Services today announced the sale of two notable office properties for a combined transaction value over $4.5 million.
Compass Commercial brokers, Stephen Toomey, CCIM, Jay Lyons, CCIM and Erich Schultz, SIOR represented Third Division Properties, LLC in its purchase of the landmark AmeriTitle building located at 15 NW Oregon Avenue for $2.9 million. SSL #1, LLC sold the 12,770 square foot building that was originally built for AmeriTitle in 1994. AmeriTitle remains the primary tenant in the building.
Third Division Properties, LLC also purchased the former American Licorice building, an 8,573 square foot office property. Located at 2796 NW Clearwater Drive in Bend’s Northwest Crossing neighborhood, the building sold in mid-July for $1.65 million. Compass Commercial brokers, Darren Powderly, CCIM, Jay Lyons, CCIM and Erich Schultz, SIOR represented American Licorice in the negotiation of the sale; and brokers, Toomey, Lyons and Schultz represented the buyer.
Third Division Properties, LLC had previously sold property and closed on these two office buildings as part of a 1031 tax deferred exchange.
For information on the above mentioned transactions contact 541.383.2444.