CCIM (Certified Commercial Investment Member) Institute has released its Q3 report for 2019. In this edition, CCIM tackles the myths associated with online shopping and the effects it has on retail leasing. According to a report by the International Council of Shopping Centers (ICSC), “online and brick-and-mortar retail have a symbiotic relationship.” CCIM Insights provide powerful facts to support predictions made on the future of the industry.
Last month, Compass Commercial Real Estate Services celebrated clients, vendors and designated charities at Tetherow Pavilion for our Annual Compass Appreciation Party. This event allows us to celebrate the relationships built over the years and to raise money for charities that are helping the community. The 2019 and 2020 grantees of the Compass Cares program are KIDS Center and Deschutes Children’s Foundation. As recipients of the Compass Cares Program, each charity will receive $2,500 per year over the next two years from Compass. In addition, the two charities participate in the Annual Appreciation Parties where they receive direct donations as well as proceeds from a silent auction. This year’s party raised a grand total of $13,500 for both charities.
President Jay Lyons, SIOR, CCIM serves on the board of the KIDS Center, the only child abuse intervention center in Central Oregon. KIDS Center provides child abuse evaluations that include a head-to-toe medical exam, child-friendly forensic interview and family support services to help connect families with community resources to minimize life stressors and reduce future opportunities for abuse to occur.
Regional Property Manager Luke Ross serves on the board of Deschutes Children’s Foundation (DCF). DCF provides classroom, office space and free facility management for other nonprofits who provide crucial services to children and families. At DCF’s four community campuses 25 nonprofits help over 22,000 children and families annually to live safer, healthier and happier lives. DCF increases collaboration among nonprofits while drastically reducing operating expenses and improving access to vital services for children and families in our community.
The event was sponsored by businesses who provided generous donations, including silent auction items and beverages for the event. Tetherow was our gracious host and venue sponsor for the night. Beverage sponsors included Crater Lake Spirits, 10 Barrel Brewing, Boneyard Beer, and Humm Kombucha. Cascade Garden Center arranged flowers which decorated The Pavilion during the event then brought continued joy to patients of Partners in Care the following day. Cascade Business News played a key role as media sponsor and offered free subscriptions to attendees.
The silent auction delighted our guests with 22 items featuring paintings, wine baskets, golf packages, gift cards and more. We are very grateful to our silent auction sponsors who included Webfoot Painting, Broken Top Club, Nashelle Jewelry, Awbrey Glen Golf Club, DrinkTanks, Bledsoe Family Winery, Hydro Flask, Humm Kombucha, The Loft of Bend, The Friedman Family, Brickhouse, Bend Magazine, and the Blacksmith. Other donors included Hardy’s Restaurant, The Lemon Tree, Stand on Liquid, Eco-Scapes, Knife River Corporation, Julia Duke Photo, Newport Avenue Market, Dana Wilson, and Jennifer McCaffrey.
We would like to extend our sincerest thank you to all who attended, sponsored, and donated to make this event and our year a success.
Compass Commercial Real Estate Services is pleased to announce notable commercial transactions closed by the firm during the month of September 2019.
Brokers Dan Kemp, CCIM, Jay Lyons, SIOR, CCIM and Grant Schultz of Compass Commercial Real Estate Services, along with Erich Schultz of Schultz CRE, represented the buyer, Robinson Partners, in the acquisition of 62910 Peerless Court in Bend. The 17,250 sq. ft. industrial building on 1.62 acres sold for $3,000,000.
Broker Graham Dent of Compass Commercial Real Estate Services represented the buyer, Sawtooth Development Group, LLC, in the acquisition of the Vanguard Building located at 63004 18th Street in Bend. The 11,354 sq. ft. industrial building on 0.84 acre sold for $1,600,000.
Compass Commercial Real Estate Services brokers Jay Lyons, SIOR, CCIM and Grant Schultz represented both the landlord, Crane Shed, LLC, and the tenant, BLRB Architects, in a lease of the 3,558 sq. ft. office suite located at 721 SW Industrial Way in Bend.
Brokers Adam Bledsoe and Dan Kemp, CCIM of Compass Commercial Real Estate Services represented both the tenant, AutoProBuys, LLC, and the landlord, Dolan NW, LLC, in the lease of a 2,698 sq. ft. retail space at the Globe Lighting building located at 63700 Clausen Drive in Bend.
Compass Commercial Real Estate Services is excited to announce Broker Tom Standish as a recipient of 2019’s Accomplished Under 40 Award. The Annual Accomplished Under 40 Awards, facilitated by Cascade Business News, recognizes young professionals who have made an impact in their communities.
Tom volunteers for Wheelers For The Wounded, which supports wounded combat veterans through organized 4X4 off-road camping trips with the goal of helping veterans reconnect to nature. As former president of his fraternity, Sigma Phi Epsilon, he has remained involved in the national fraternity since 2004 mentoring aspiring entrepreneurs and serving as alumni board president to local chapters.
Tom assists businesses and investors by navigating the sales and leasing process through ethical negotiation. He was recently involved in the sale of the Wagner Mall and Pinebrook Plaza shopping centers in Bend. Before joining Compass Commercial, he co-founded and served as CEO of a clothing manufacturing brand that sold in 2017.
We are proud to have Tom as a part of the Compass Commercial team. He inspires his fellow brokers, staff and clients by bringing his passion and contagious positivity to his work. Read more about the Accomplished Under 40 Awards and Tom’s achievements here.
Compass Commercial is pleased to announce the addition of Cathy Sechrist and Steven Meadows. Cathy will be joining the Compass Commercial Construction Services team as a Construction Services Administrator. Compass Commercial Asset & Property Management welcomes Steven Meadows to the team as a Facilities Technician.
Cathy made the move from Fremont, California to Bend in 2019, bringing over 20 years of IT business applications experience in the semi-conductor and manufacturing industries with her. She has an extensive background in construction services, supplier accounting and IT making her a fundamental asset to the team. Her current role includes construction accounting, office administration, and assisting the project managers with subcontractor agreement materials and coordinating equipment set-up.
Steven comes from a background in customer service, warehouse management, sales, and cabinetry. He brings nine years of specialty hardware experience with him to help solve problems and form solutions for contractors in the field. He is responsible for conducting inspections at numerous commercial sites and for repairing machines, equipment and property structures.
Outside of work, Cathy is traveling and photographing her adventures. She has traveled to 13 states and 16 countries, totaling to 6 continents, with a trip to Antarctica planned in 2021 marking off continent number 7. Steven can often be found spending time with his family and friends camping, hunting and fishing. He is an avid Oregon Ducks fan and likes to catch a game whenever he can.
Compass Commercial Real Estate Services is pleased to announce notable commercial transactions closed by the firm during the month of August 2019.
Joel Thomas, CCIM, Russell Huntamer, CCIM and Tom Standish, Broker of Compass Commercial Real Estate Services represented the seller, Bowler & Bowler, LLC, in the disposition of 2855 NW Crossing Drive in Bend. The 10,432 sq. ft. medical office building sold for $3,450,000. Read more about this transaction.
Broker Terry O’Neil, CCIM of Compass Commercial Real Estate Services represented the buyer, D&S Hollywood, LLC, in the acquisition of 1000 SW Indian Avenue in Redmond. The 11,304 sq. ft. office building on 0.89 acre sold for $2,400,000.
Compass Commercial Real Estate Services broker Ron Ross, CCIM brokered the sale of 1908 NW Canal Boulevard in Redmond representing the seller Canal Land Partners, LLC. The 4.01 acre parcel sold for $1,200,000.
Brokers Dan Kemp, Peter May, CCIM and Howard Friedman, CCIM of Compass Commercial Real Estate Services represented the seller, Neal Cole Properties, LLC, in the sale of 1880 NE Butler Market Road in Bend situated on 5.31 acres for $750,000.
Compass Commercial Real Estate Services brokers Terry O’Neil, CCIM and Ron Ross, CCIM represented Steven & Judith Boswell, the seller, in the disposition of 444 NE Olney in Bend. The 3,328 sq. ft. fourplex on 0.32 acre sold for $618,000.
Ron Ross, CCIM of Compass Commercial Real Estate Services and Luke Ross, Broker of Compass Commercial Asset & Property Management facilitated the sale of 61550 American Lane, Unit 1 in Bend representing the seller, Highliner Properties, LLC. The 3,025 sq. ft. industrial condo sold for $531,000.
Compass Commercial Real Estate Services brokers Dan Kemp and Peter May, CCIM represented both the seller, Tumalo Enterprises and the buyer, Chris O’Driscoll, in the sale of the location of the former El Caporal Restaurant located at 64677 Cook Avenue in Bend. The 0.50 acre parcel sold for $350,000.
Peter May, CCIM of Compass Commercial Real Estate Services represented the tenant, Miko Miko, in leasing 1,242 sq. ft. of retail space in Robal Road Village, 63450 N Highway 97 in Bend. The women’s boutique is anticipating opening by the end of September.
Compass Commercial Real Estate Services is pleased to announce the sale of Summit Square North located at 2855 NW Crossing Drive in Bend. Joel Thomas, CCIM, Russell Huntamer, CCIM and Tom Standish, Broker represented the seller, Bowler & Bowler, LLC, in the disposition of the 10,432 sq. ft. medical office building. The building was sold for $3,450,000.
The sellers approached the brokers to assist with selling the property last fall. The building was partially owner-occupied and being marketed at 50% vacant. After careful consideration, the brokers encouraged the owner to lease the available upstairs suite before renewing marketing efforts for the property.
The Sage School of Massage leased the entire upstairs in May of 2019, bringing the building to 100% occupancy. The property was rebranded as a fully leased NNN investment. It ultimately sold at a value that was 10% higher than when the brokers took on the assignment.
Located in the desirable NorthWest Crossing community, Summit Square North is one of Bend’s premier Class A office buildings. Current tenants of the building include Exam Works, West Bend Family Medicine, Bend Dermatology, and Sage School of Massage.
We are pleased to announce Kristie Schmitt, Broker and Grant Schultz, Broker of Compass Commercial Real Estate Services have been recognized to join the 2020 class of Leadership Bend. They have been accepted among a variety of candidates for their commitment to the Central Oregon community and their determination to create a lasting impact. Their positivity in their work and their willing to learn make them exceptionally qualified for the program. We are excited to see the impact they make in Central Oregon.
Leadership Bend is a non-profit organization designed to engage and educate Central Oregon citizens who are ready to take on leadership roles to build a stronger community. The nine month program allows the participants to work alongside local leaders to increase the opportunities to grow in the Central Oregon region.
Compass Commercial Real Estate Services is pleased to announce notable commercial transactions closed by the firm during the month of July 2019.
Compass Commercial Real Estate Services broker Terry O’Neil, CCIM represented Tank Building LLC, the seller, in the disposition of 62910 Peerless Court in Bend. The 17,250 sq. ft. industrial building on 1.62 acres sold for $2,569,000.
Dan Kemp, Broker and Peter May, CCIM of Compass Commercial Real Estate Services represented both the buyer, Coastal Equity LLC, and the seller, Sundog Holdings, LLC, in the purchase of two commercial lots comprised of 0.70 acre located at 611 & 623 SW Mill View Way in Bend. The two parcels sold for $1,175,000.
Compass Commercial Real Estate Services brokers Jay Lyons, SIOR, CCIM, Grant Schultz and Dan Kemp, along with Erich Schultz of Schultz CRE, represented the seller, James Robinson 1987 Trust, in the disposition of 2790 NE Conners Avenue in Bend. Broker Howard Friedman, CCIM represented the buyer, Central Oregon Regional Housing Authority. The 1.51 acres of residential land in the medical overlay district sold for $975,000.
Another space at the Box Factory located at 550 NW Arizona Avenue, Suite 103 in Bend was recently filled. Jay Lyons, SIOR, CCIM, Russell Huntamer, CCIM, Grant Schultz, Broker, and Tom Standish, Broker represented the landlord, Old Mill Retail, LLC. The new tenant, The Savy Agency, leased the 2,309 sq. ft. office space.
Compass Commercial Asset & Property Management broker Herb Arathoon, CPM® represented the landlord, Boyd Acres Joint Venture LLC, in the lease of 62980 Boyd Acres Road in Bend. Broken Top Candle Company leased a 6,000 sq. ft. industrial space.
Broker Herb Arathoon, CPM® of Compass Commercial Asset & Property Management represented the landlord, MWC E, LLC, in the lease renewal of the 1,815 sq. ft. office space located at 745 NW Mt. Washington Drive in Bend to the Tutoring Club of Bend.
Big O Bagels, the tenant, renewed their lease of the 2,000 sq. ft. retail space located at 2595 NE Butler Market Road in Bend. Compass Commercial Asset & Property Management broker Caroline McDonald, RPA® represented the landlord, Scott H. Oakley, in the transaction.
Compass Commercial Real Estate Services broker Dan Kemp assisted both the seller, Toney Properties, LLC, and the buyer, Alex Cunningham, in the sale of 113 East B Street in Burns. The multifamily property consisting of 2,250 sq. ft. sold for $132,000.
If you have questions about these transactions, please contact the appropriate broker at Compass Commercial Real Estate Services at 541.383.2444.
Brokers Pat Kesgard, CCIM and Kristie Schmitt of Compass Commercial Real Estate Services along with Compass Commercial Asset & Property Management brokers John Keba, CPM®, ARM® and Holley Jensen represented Overbay Development Company, LLC as the seller in the sale of the Wagner Mall and Pinebrook Plaza shopping centers in Bend. Russell Huntamer, CCIM and Tom Standish, broker represented the buyer, Western Pacific Holdings, Inc., in purchasing both properties.
Wagner Mall and Pinebrook Plaza were a part of a joint venture previously owned by Overbay Development Company, LLC. Kesgard and Schmitt were approached by Overbay’s lawyer to sell the two properties. Kesgard then brought in Compass Commercial Asset & Property Management’s Keba and Jensen to manage the properties. The Overbay family built the two retail centers in the early 1970’s and late 1980’s and also own the Wagner Square in Redmond.
Pinebrook Plaza is currently home to Albertsons, among other retail stores. The sale was comprised of both the main building and land and included the stand-alone Shari’s restaurant. The 59,509 sq. ft. shopping center is situated on 5.97 acres at 61155 Highway 97. Wagner Mall’s 108,818 sq. ft. shopping center is situated on 9.35 acres at 1800 NE 3rd Street and includes Albertsons, Rite Aid and Aaron’s. The sale of Wagner Mall included the mall, large box spaces and the surrounding pad sites.
If you have questions about this article, please contact Russell Huntamer, CCIM or Pat Kesgard, CCIM of Compass Commercial Real Estate Services at 541.383.2444.