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Central Oregon CRE Update – September Transactions

We are pleased to announce that September production exceeded $25 million in total consideration. This level of closed sales and lease transactions is the highest monthly activity so far this year. The following are the notable commercial transactions of the 35 sale and lease transactions closed by the firm during September.

A Pacific Northwest based real estate investor sold the building that houses Columbia Distributing located at 20735 High Desert Lane in Bend. The 106,776 square feet industrial building is comprised of warehouse and office space. Compass Commercial brokers Dan Kemp, Erich Schultz, SIOR, Jay Lyons, SIOR, CCIM and Grant Schultz represented the seller. The transaction was valued at $16.3 million.

Millview Properties, LLC, the landlord, renewed its lease with Wells Fargo Bank for the 7,738 square foot office building at 650 SW Bond in Bend. The landlord was represented by Compass Commercial brokers Erich Schultz, SIOR, Jay Lyons, SIOR, CCIM and Grant Schultz.

Dehm Trust sold the 7,578 square foot retail building located at 815 SE 3rd Street in Bend. Compass Commercial brokers represented both sides. Joel Thomas, broker represented the seller. Pat Kesgard, CCIM and Kerri Standerwick represented, FT II, LLC, the buyer. The transaction was valued at $1,270,000.

Brokers Ron Ross, CCIM, Pat Kesgard, CCIM and Kerri Standerwick of Compass Commercial represented Sun Forest Construction, LTD, the seller, in the sale of 4.18 acres with a residential structure located at 61248 Brookswood Boulevard in Bend. The transaction was valued at $985,000.

The City of Bend sold the industrial land located at 20949 Cooley Road, Lot 4 of Juniper Ridge Phase 1. Compass Commercial brokers Ron Ross, CCIM, Dan Kemp, Pat Kesgard, CCIM and Kerri Standerwick represented the seller in the transaction valued at $421,000.

Hammerstone Land, LLC sold the 1.09 acres of industrial land located on SE 4th Court in Redmond to United States Bakery; both seller and buyer were represented by broker Dan Kemp of Compass Commercial. In addition, the seller was represented by broker Peter May, CCIM, while Erich Schultz, SIOR, Jay Lyons, SIOR, CCIM and Grant Schultz of Compass Commercial represented the buyer. The transaction was valued at $404,323.

Blackford Properties, LLC sold the Ultra Car Wash located at 3640 SW 21st Place in Redmond. Brokers Dan Kemp and Bruce Churchill of Compass Commercial represented the seller of the 2,316 square foot structure and business situated on 0.40 acre of land. The transaction was valued at $350,000.

The 2,250 square feet of retail space on ground floor of the new Galveston Terrace located at 631 NW Federal Avenue in Bend was leased to Sand Lily Home, a new household accessory retailer opening later this fall. Brokers Jay Lyons, SIOR, CCIM, Erich Schultz, SIOR and Grant Schultz of Compass Commercial represented SP Canyon, LLC, the landlords, and Joel Thomas, broker also of Compass Commercial, represented the tenants.

Compass Commercial brokers Pat Kesgard, CCIM and Kerri Standerwick represented the landlord, Arthur A. Pozzi Trust in the lease of the 28,010 square foot office building located at 20720 Brinson Boulevard in Bend. The tenant, Suterra, LLC was represented by Compass Commercial broker Bruce Churchill.

Compass Commercial broker Ron Ross, CCIM represented Amoebas, LLC, in the sale of the 1,510 square foot residential building at 20733 NE Liberty Lane in Bend. The transaction was valued at $291,500.

Venture Properties, Inc. purchased the 0.95 acres of residential land located at 61230 Brookswood Boulevard in Bend. Roats Family Trust, the seller, was represented by Compass Commercial brokers Ron Ross, CCIM, Pat Kesgard, CCIM and Kerri Standerwick. The transaction was valued at $285,000.

Robert Raimondi, CCIM broker at Compass Commercial represented both Par Value Properties, LLC, the seller, and Cloud Crest Homes, LLC, the buyer, in the purchase of 0.10 acre of residential land located at 20330 Shire Lane in Bend. The transaction was valued at $280,000.

Compass Commercial broker Robert Raimondi, CCIM represented both Aero Facilities, LLC, the seller, and Charles L. Rosenfeld, the buyer, in the transaction of industrial land located at 63205 Gibson Air Road near the Bend Municipal Airport. The transaction was valued at $259,998.

Broker, Herb Arathoon, CPM® of Compass Commercial represented the landlord MWC E, LLC in leasing 2,247 square feet of office space in the building located at 745 NW Mt. Washington Drive in Bend to Froelich Consulting Engineers, Inc.

Broker, Herb Arathoon, CPM® of Compass Commercial represented the landlord MWC E, LLC in renewing the lease on 3,486 square feet of office space in the building located at 745 NW Mt. Washington Drive in Bend to Dana’s Discovery Kids.

Centratel, LLC, the landlord was represented by Terry O’Neil, CCIM in the leasing of 1,804 square feet of office space located in the building at 141 NW Greenwood Avenue in Bend.

Brokers Graham Dent, Kerri Standerwick and Pat Kesgard, CCIM of Compass Commercial represented Wall Street Business Center, LLC, the landlord, in the lease of the 1,200 square foot office space located at 1345 NW Wall Street in Bend.

If you have questions about these transactions, please contact the appropriate broker at Compass Commercial Real Estate Services at 541.383.2444.