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Central Oregon CRE Update – September 2016 Transactions

Monthly consideration hits numbers not seen since last boom cycle

BEND, ORE (October 11, 2016) –Total consideration for commercial real estate transactions recorded by Bend-based Compass Commercial for the month of September was above $19 MM, an amount near numbers not seen since the last boom cycle when the company reported monthly consideration at a high of $28.2 MM in July of 2006.   Notable transactions from last month include the following:

Contact Properties, LLC, sold industrial buildings totaling 550,000 square feet situated on 82 acres at 1155 and 1315 N. Main Street in Prineville, Oregon to ET 101, LLC for $6,275,000.  Compass Commercial brokers, Erich Schultz, SIOR, Joel Thomas, broker and Jay Lyons, CCIM represented both parties in the transaction.

Morningside Medical Building, LLC sold a 15,278 square foot office building located at 2115 NE Wyatt Court in Bend to 150 Spear Street Associates, LP. Compass Commercial brokers, Daniel Kemp and Peter May, CCIM represented both parties in the transaction that was valued at $5,100,000.

Antioch Community Church of Bend sold the Rose Garden Apartments, a 15-unit complex located at 25 & 35 SW McKinley Avenue and 40 SW Cleveland Avenue in Bend to Robinson Family Investments, LLC. Compass Commercial’s, Erich Schultz, SIOR, Dan Kemp, broker and Jay Lyons, CCIM represented both parties in the transaction valued at $2,090,000.

Sandra Watts sold a 12-unit multifamily property located at 61541-61545 Parrell Road in Bend to Campbell Realty Group, LLC for a transaction valued at $1,475,000. Compass Commercial broker, Graham Dent represented the buyer.

Harold & Ruth Stephens Trust sold a 4,950 square foot retail building located at 3559 Washington Blvd., in Ogden, Utah to 200 Greenwood, LLC. Compass Commercial broker, Robert Raimondi, CCIM represented the buyer in the investment valued at $607,500.

A multifamily duplex located at 928 Portland Avenue in Bend was sold with a sale price of $469,000.  Compass Commercial brokers, Terry O’Neil, CCIM and Ron Ross, CCIM represented the Seller.

A six-unit apartment building located at 955 NE Elm Street in Prineville, Oregon sold for a transaction value of $359,000. Compass Commercial brokers, Peter May, CCIM and Dan Kemp represented the seller.

Performance Insulation leased an 8,198 square foot industrial property located at 63257 Nels Anderson Road from Tobron Oregon, LLC. Robert Raimondi, CCIM of Compass Commercial represented both the landlord and tenant in the lease negotiation.

Pacific Resource Brokers leased 1,388 square foot office space located at 400 SW Bluff Drive, Bend from OMP, LLC. Compass Commercial’s Erich Schultz, SIOR and Jay Lyons, CCIM represented the landlord in the lease negotiation.