We would like to announce the sale of the retail condos at Putnam Pointe, located at 750 Lava Road in downtown Bend. The property was sold as an investment and sold for $2,525,000. The deal closed on May 30, 2017 with the seller Housing Works represented by Compass Commercial broker, Howard Friedman, CCIM. According to Friedman, “An out of town investor moving to Bend purchased this building and others in Bend after selling a small shopping center in California. This is a trophy downtown property with 4 quality tenants, anchored by Visit Bend and the Jackalope Grill.” The 8,268 square feet of the ground level retail space is fully leased and is also currently occupied by Studio DeVine Beauty Boutique, Latitude 44° Realty.
The property was built in 2009 zoned as Central Business (CB), including retail space with apartments in the above stories. It is a very unique space, adjacent to the public parking garage, there is resident parking below and a courtyard on the ground level, hidden from the street. The structure has concrete floors at the retail level with a modern, industrial touch. When the property was dedicated in 2009, Cascade Business News covered the event with an article about the building (Read here.). Above the ground floor retail, there are 33 affordable housing apartments and 10 condominiums that Housing Works of Bend manages.