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Category : Retail & Restaurants

Home/Client Solutions/Case Studies/Archive by Category "Retail & Restaurants"
Okawa Steak House & Sushi in Bend, OR

Okawa Steak House & Sushi is OPEN!

by Compass Commercialon 12 September 2016in Retail & Restaurants

Central Oregon fans of Hibachi style dinners rejoice! Okawa Steak House & Sushi is now open in Bend!

Located at the corner of Reed Market and 3rd Street in the former Outback Steakhouse location, the restaurant held a soft opening last week.

While new to Bend, owner Mickey Lin is not new to the restaurant business. As he recently recounted to our marketing manager, he was only 15 when his family came to the United States from China to make a home in Boise, Idaho, where they opened a successful Chinese restaurant which the family operated for years. It was in this environment that Mickey learned the business and developed a work ethic that he would apply to his own restaurant businesses, including Los Angeles-based, World Buffet and the first location of Okawa Steak House and Sushi in Santee, California.

In Santee, Okawa’s 3,000 square foot strip mall location was packed every night. Seating at the hibachi tables required advance reservations and with Mickey’s focus on customer service, he found a recipe for success.

In late 2014, Mickey started to investigate areas in the Pacific Northwest for expansion and after searching for some time, he zeroed in on a strip mall location in Bend once occupied by Outback Steakhouse.

Reviewing area demographics, the promising numbers projected in a growing Bend economy, and the city’s lack of a Hibachi-style restaurant, Mickey and his partner, Alex Jiang, head sushi chef, committed to leasing the 6,120 square foot space in December 2015.

As building permits were secured, the new tenants began their extensive interior remodel to convert the space to become Okawa.  After eight months of renovations, the doors finally opened to customers in a soft opening last week.

Menu options will delight fans of traditional Hibachi-style restaurants, (folks who travel to Portland for Benihana, listen up!). The prices are comparable, if not even less, and the flavors are unique to Okawa.

Compass Commercial brokers, Pat Kesgard, CCIM, Peter May, CCIM, Russell Huntamer, CCIM and Joel Thomas, broker represented the landlord in the lease negotiation.

Okawa Steak House & Sushi, 1180 SE 3rd St, Bend, OR 97702

Reservations recommended: (541) 640-8056

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ICSC Member Logo

Local Brokers Target National Retailers at RECon Convention

by Compass Commercialon 14 June 2016in Retail & Restaurants

BEND, OR, June 14, 2016 – Compass Commercial last month circulated a brief survey asking community social media groups to weigh in on what was missing in the Bend retail market. The questions were intended to provide insight to the company’s brokers attending the International Council of Shopping Centers’ retail convention in Las Vegas last month.

ICSC RECon, as it is called in the industry, is the largest retail real estate convention in the world. The four-day event gathers over 36,000 attendees and more than 1,000 exhibitors from across the country at the Las Vegas Convention Center and gives regional brokers an opportunity to meet with tenants, other brokers, developers, lenders, and industry related professionals (software consultants, etc.) from around the country.

“It’s a place to pitch ideas, share current listings with prospective tenants, and get in front of retailers that Compass Commercial is interested in representing on a regional level,” said Joel Thomas, a broker with Compass Commercial who attended the convention along with Russell Huntamer, CCIM, Peter May, CCIM and Dan Kemp, Broker.

Feedback from the retail survey provided the brokers with a small snapshot of the community’s retail “wants” in advance of the convention.

“We saw a definite consensus that both In-N-Out Burger and Nordstrom Rack would be well received in our market,” said Thomas.

Whether or not the survey feedback helped to influence retailers in coming to Bend remains to be seen.  The brokers aren’t at liberty to share the confidential nature of what was discussed, nor who they met with.

“Our team met with very specific retailers that we are looking to either represent just in our market or throughout the entire state, while using the forum to pitch some of our current listings,” Thomas said.  “However, at this point, I am not comfortable disclosing to the general public who those retailers are,” he continued with a smile.

While RECon is the biggest show of the year, there are also smaller, quarterly conventions that Compass Commercial brokers attend, but for brokers looking to make a name in the retail sector, RECon is a must.

“We jam pack the day with as many 30-minute meetings as possible with retail real estate managers, other brokers, and developers,” said Thomas.  “It’s our opportunity to meet with people we think will benefit the Bend community.  It’s a great venue to network because literally, all the players are there.”

Bend has continued to gain momentum in the eyes of national retailers.  At the convention Thomas said Bend no longer needed an introduction.When the team approached retail booths prepared to give an overview of the Bend market, real estate managers and developers would cut them off, not just in an effort to save time in the short 30-minute windows for meetings, but mainly because they were well aware of Bend’s demographics and its place on the map. They wanted to know more about future growth and current opportunities.

“It was encouraging to see retailers’ eyes light up when we mentioned that we were from Bend,” Thomas said.  “Nationwide, retailers are hearing great things about Bend, and wanted to know more about its growth potential, how it fared in the economic recession, where opportunities are and where we see Bend going in the next decade or so.”

Compass Commercial focuses on more than just the Bend market. The annual convention gives Thomas and the team a chance to share their unique knowledge of the greater Oregon market to a targeted list of retailers.

“For several months, we’ve been setting up meetings with folks that are either already in our market that we think could expand, or retailers that aren’t in our market that we think could use a presence in Central Oregon.”

Bend has made a name for itself beyond the Pacific Northwest, especially within the tourism related industries and retailers want a piece of the action. As to who those retailers will be, the community will have to wait and see.

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Boneyard Beer

Boneyard Beer to Open Pub on Division St.

by Compass Commercialon 10 June 2016in Retail & Restaurants

Earlier this year, Compass Commercial’s Pat Kesgard represented the sale of 1955 NE Division Street to a buyer that had plans to convert the space to a brew pub. For locals (and those without a nose for craft brews), the notion of another brew pub opening in Bend might have generated an eye roll, but when rumors began to circulate that it was Boneyard Beer that had taken on the space, fans of the rebel brewery gleefully waited in anticipation for the pub’s planned opening this summer.

Compass Commercial’s Erich Schultz and Jay Lyons represented Boneyard in the purchase of the 4,857 square foot building, with a history that includes both Mexican and Chinese food restaurants as former tenants. Read more about Boneyard’s journey from an off the beaten path 300 square foot tasting room to the opening an off the beaten path brew pub in the latest issue of 1859 (story below).

BONEYARD BEER TO OPEN BEND PUB

Source: 1859 written by Bronte Dod | photos by Kellie Standish

Never say never.

Tony Lawrence, founder and co-owner of Boneyard Beer, was once quoted as saying that he makes beer not burgers, and that Boneyard would never open a pub. But soon, Boneyard will do just that. The brewery has purchased a property on Division Street on the east side of Bend, and will open a pub by the end of the summer.

Rumors in the beer industry spread fast, especially in Bend, with twenty-nine craft breweries and a culture built on beer.

After the closely guarded secret was leaked earlier this year, Boneyard posted a photo on Instagram confirming the news. The picture showed the word “Boneyard” graffitied on a concrete wall with the caption “Just having a little fun decorating the walls of our new PUB! Opening in Bend this summer…you ready or what!?”

Unsolicited resumes came flooding in, as did calls from the media. Boneyard kept its head down, quietly brewing more beer and making plans for the pub. Lawrence, while appreciative, doesn’t love the attention.

“We like to believe that we’ll do a good job and let the chips fall where they may,” Lawrence told me in an interview.

Boneyard is known for being a nontraditional force in the brewing industry. The pub comes six years after Boneyard started brewing beer. It’s a break from the typical brewpub strategy—and fitting with Lawrence’s own path.

Lawrence got his start at the beginning of the craft beer boom in the 1980s. He landed in Bend not with a passion for beer, but for the mountain. John Harris, the first brewmaster at Deschutes Brewing, hired Lawrence as a dishwasher. When he first met Lawrence, he saw him as a snowboard bum with a spark for brewing.

“He had a good work ethic,” Harris said. Seeing potential, Harris promoted Lawrence to be a cleanup brewer.

“I showed him here was a job he could have, but he’s got to work his ass off,” Harris said. “Once Tony got into brewing, he got way into brewing.”

In the two decades Lawrence worked in the brewing industry he slowly amassed his own “boneyard” of brewing equipment. Then in 2010, along with two other cofounders, Melodee and Clay Storey, Lawrence officially started brewing Boneyard beer. After slowly building a loyal Boneyard following, its flagship RPM IPA was voted Oregon’s best beer in 2015.

Since the first barrel was brewed, Boneyard beer has only been available on tap or in three-ounce tasters at the brewery’s tasting room. While the tasting room is always packed, legal restrictions in the 300-square-foot industrial space prevent Boneyard from serving pints, which was one part of the impetus to open a pub.

For Lawrence, the pub is part of a larger, long term plan for Boneyard. Lawrence also doesn’t want Boneyard to miss out on Bend’s beer tourism industry.

“The tourism in Bend is so wild, and people are so interested in craft beer,” Lawrence said. “At this point in the game we’re probably leaving the brand a little short.”

Lawrence won’t reveal many details about the pub, but the plans are being made by the Boneyard team, which is made up of about twenty employees including brewers, office staff and employees at the tasting room.

“Six years into it, we’ve got a really good brewing team and staff, and a rhythm and pattern so that we can experiment with this other opportunity,” Lawrence said.

Part of that rhythm is the communications manager, Kate Fleming-Molletta, who has worked with Boneyard and Lawrence for four years.

“[Lawrence] has his hands in basically every part of the business,” said Fleming-Molletta. “He’s very involved, and since we’re small that works.”

Fleming-Molletta said that it took some time for all the employees to get on board with the pub, but now, everyone is excited.

“We’re going to put a focus on the food. We’re going to make it as good as our beer. It’ll be a destination spot. We’re not downtown. We’re not in any of the super hip areas,” Fleming-Molletta said. “But it wouldn’t be Boneyard if it wasn’t off the beaten path.”

An opening date for the pub still hasn’t been announced. Holding true to its original ethic, Boneyard won’t be serving burgers. Sometimes, you can say never.

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Bend Cascade Village aerial

Opportunities for Retail Investment and Development

by Compass Commercialon 25 May 2016in Retail & Restaurants

Compass Commercial’s retail team closed out their final day in Las Vegas at the International Council of Shopping Centers’ RECon 2016, the largest retail convention in the industry.

Buzz captured from the convention floor by NREI Online included the notion that, “…the opportunity for investment and development (seems to be) moving to urban cores in secondary and tertiary markets…” We concur!

Read more of NREIOnline‘s daily reports from Day One and Day Two @ICSC.

Check out Compass Commercial’s retail listings HERE.

 

 

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Retail & Restaurants Update

Retail & Restaurant Bites

by Compass Commercialon 20 April 2016in Retail & Restaurants

beach hut

Beach Hut Deli is coming to downtown Bend at the end of the Breezeway at 852 NW Brooks Street. The deli will be serving up breakfast and lunch sandwiches, salads, soups, craft beers and wine. There will be indoor and outdoor seating, more than 10 TV’s to watch your favorite sports action, great music, all in a relaxed family environment. Beach Hut Deli was represented by Howard Friedman, CCIM.

 

 

mslo-tag

Moose Sisters True Cuisine and Spirit is opening soon in Cascade Village Shopping Center.  Owners and twin sisters, Maxine Veloso and Marlene Rinerson bring their authentic menu of comfort food made from the freshest, local grown product possible and creatively presented with their signature spirit that has made them a success at Moose Girls Cafe in Sun Valley and Ketchum, Idaho for over 15 years. The duo moved to Bend last year and being enamored with the incredible view of the Three Sisters as a backdrop at their new space, they opted to revamp their Moose Girls restaurant brand name with a nod to the cascade mountain range, and thus Moose Sisters was concieved. Look for updates on their opening date soon! Moose Sisters was represented by Russell Huntamer, CCIM.

La Magie

La Magie Bakery‘s Sisters location held a soft opening on March 31st and has become a popular spot since bringing their signature pasteries and menu offerings to the location. Visit them at 473 E. Hood Ave., Sisters, OR 97759. Phone number is: 541-549-6562. La Magie was represented by Howard Friedman, CCIM.

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Old Mill Marketplace changes name to Box Factory

Bend commercial center renamed

by Compass Commercialon 2 April 2016in Retail & Restaurants

Old Mill Marketplace to become the Box Factory

(The Bulletin) Published Apr 1, 2016 at 06:40PM

Old Mill Marketplace for lease Atlas Cider Old Mill Marketplace

The Old Mill Marketplace, home to the Bend Tour Co., WebCyclery, the Atlas Cider Co. tasting room and other businesses, will now be known as the Box Factory, according to Jeremy McPherson, development manager for Killian Pacific, a commercial real estate firm based in Vancouver, Washington.

McPherson said the building at the center, which was purchased and redeveloped by Killian Pacific in 2013, is the last remaining box factory building in Bend. Built in 1916, the Brooks-Scanlon box factory made wooden boxes for fruit, milk, soap, cereal and other goods, according to a news release from Killian Pacific.

The new name is designed to celebrate the building’s centennial, which will be celebrated in June. McPherson added that the new name would help distinguish it from the nearby Old Mill District.

He said the commercial center will receive new signs within the next 45 days.

The development, at 550 SW Industrial Way in Bend, is currently home to 30 businesses. Two more, Immersion Brewing and The Brown Owl restaurant are expected to open by the end of May, McPherson said.

—By Stephen Hamway

For information about available space in Old Mill Marketplace, contact Jay Lyons, CCIM at Compass Commercial.

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Retail & Restaurants Update

Retail & Restaurant Bites

by Compass Commercialon 9 February 2016in Retail & Restaurants

Barrio 2Barrio is expanding to a new location downtown. The Latin-inspired restaurant is taking the space at 915 NW Wall Street recently vacated by Sweet Saigon. The new location will triple Barrio’s current seating capacity with an increase from 1,554 sq. ft. to 3,600 sq. ft. plus a large outdoor back patio facing Brooks Street and the Deschutes River. “The outdoor dining deck space on Brooks Street behind the restaurant was an attractive feature to Barrio’s owners,” said Russell Huntamer, CCIM, who represented their lease negotiation and purchase of the existing fixtures and equipment within the space. Barrio plans to be ready to open in the new location by March 1st. An undisclosed tenant is in lease negotiations to take the soon to be vacant space at 163 NW Minnesota Ave.  Sweet Saigon’s owners will continue to focus on enhancing their successful Third St. restaurant, PHO Viet & Cafe.

Bangers & Brews is taking over the former Hot Rock Pizza space at 1288 SW Simpson Avenue to offer Bend brew enthusiasts an authentic Argentinian and German influenced menu and a wide selection of micro-brews. The restaurant owners plan to reconfigure the existing outdoor patio space to offer expanded seating. Bangers & Brews has target plans for a spring opening.

InJoy Salon opened in December at Brookswood Meadow Plaza, southwest Bend’s uniquely local shopping center and offers a wide variety of beauty and relaxation services including hair styling, nails, facials and massage.

After a successful expansion of their bakery in downtown Bend, La Magie Bakery & Café is opening a second location in Sisters. The café has leased a 3,943 sq. ft. space located at 473 E. Hood Avenue.  The new cafe should be up and running within the next two months and will feature La Magie’s signature breakfasts, pastries, cakes and libations. Currently under remodel, the building space will be transformed into a local gathering place with La Magie’s flair for the creative, with a comfortable and inviting atmosphere. “We are very excited to see another quality restaurant option for the City of Sisters,”  said Howard Friedman, CCIM who represented both the landlord and La Magie  in the lease negotiation. “La Magie has proven success in the Bend market, with breakfast offerings, lunches and baked goods that I think are second to none. I am sure they will fit in nicely to the Sisters community,” he said.

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Holiday Shopping? Stores with Best & Worst Return Policies

by Compass Commercialon 5 December 2015in Retail & Restaurants

Consider retailers’ satisfaction guarantees when holiday shopping  

Retailers with return policies that include a customer satisfaction guarantee (Nordstrom, L.L. Bean, REI), make holiday shopping less daunting. When merchandise doesn’t meet expectations, what will the store do to address your disatisfaction? How do retailer return policies stack up?

GOBankingRates last month ranked return policies from major retailers based on six key factors that make returns easy and customer-friendly, identifying the top 10 with the best policies and the top five with the worst

If you have a teenage girl, you’ll likely be familiar with Forever 21’s policy, which ranked the worst. Forever 21 only allows 21 days for returns, and purchases can only be exchanged for other items or refunded in the form of store credit, not in the original form of payment. Items must also be unworn, unwashed and unused with tags still attached. If you don’t return the item within 21 days, you can count on keeping that “pleather” jacket FOREVER, or at least until it falls apart.

Here are the results:

Best Return Policies:
1.      Nordstrom
2.      L.L.Bean
3.      Bed Bath & Beyond
4.      J.C. Penney
5.      Costco
6.      Staples
7.      Zappos
8.      REI
9.      Macy’s
10.  Kohl’s

Worst Return Policies:
1.      Forever 21
2.      Kmart
3.      Barnes & Noble
4.      GameStop
5.      Sears

 

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Thinking of starting a restaurant in Bend, Oregon? Be sure to know your FF&Es and SDCs…

by Howard Friedmanon 26 November 2012in Advisor Insights, FAQ: Common CRE Questions, Helpful Resources & Links, Retail & Restaurants

By Howard Friedman, CCIM

The Firehall buildingThe Bend restaurant scene is an ever-evolving and ever-changing animal. Being one of the toughest businesses to run and one of the highest turnover industries in the nation, Bend is also no stranger to restaurant ownership changes.

Of the almost 60 food and beverage businesses in the downtown core, there are currently a number of vacant or ‘quietly for sale’ establishments available. But the good news is the apparent interest and impending occupancy of several of these, with some promising new concepts to add to the diverse selection of dining choices that we currently have.

By Howard Friedman, CCIM The Bend restaurant scene is an ever-evolving and ever-changing animal. Being one of the toughest businesses to run and one of the highest turnover industries in the nation, Bend is also no stranger to restaurant ownership changes. Of the almost 60 food and beverage businesses in the downtown core, there are…

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