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Compass Commercial Negotiates 1031 Exchanges for Combined $7.275 Million

Bruce Kemp, CCIM
Bruce Kemp, CCIM, Compass Commercial

BEND, OR – Bruce Kemp, CCIM, with Compass Commercial Real Estate Services in Bend, Oregon represented a private investor in two 1031 Exchange transactions located in Washington State for a combined value of $7,275,000.00. In the first transaction, Kemp represented the purchase of a 12,096 square foot Petco store located at 189 E. Bakerview Road in Bellingham, Washington for an exchange value of $4,050,000.00. Built in 2003, the property is located next to Walgreens across from Bellis Fair Mall. The seller was represented by Ronnie Issenberg with Marcus & Millichap in Miami, Florida.

In another sale valued at $3,225,000.00, Kemp represented the same buyer in the exchange of an 8,000 square foot retail building leased to Pier One Imports. The building is an out parcel of the Tacoma Mall and is situated on a.51 acre lot at 4301 S. Steele Street in Tacoma, Washington. The tenant has 10 years remaining on the lease. Joe Blatner and Justin Poor of Marcus & Millichap in Portland, Oregon represented the seller.

For more information contact Bruce Kemp, CCIM at 541.383.2444.

Compass Commercial, ( headquartered in Bend is Central Oregon’s leading commercial real estate firm offering services in sales and leasing, tenant/buyer representation, asset and property management, and development services. Follow us on Twitter @CompassCom.