(BEND, OR) – Compass Commercial Real Estate Services is pleased to announce the arrival of several new retailers in Bend.
National retailer, Lids has found a home in Bend’s Old Mill District. Compass Commercial represented Lids, operating within Hat World, Inc., a subsidiary of Genesco Inc. in a long-term lease of 1,480 square feet of retail space formerly occupied by the Ducks Store. “The space hadn’t hit the open market yet, but with Compass’ insight and knowledge of the retail market we were able to secure an ideal location for the tenant just as they were beginning to explore availability in Bend,” said Huntamer, who represented Lids in the negotiation. The Old Mill District represented itself. Old Mill District shoppers also get to enjoy a new candy store as part of the center’s expanding retail mix. Compass Commercial recently represented Sweet Tooth Candy Shoppe in its lease of a 1,086 square foot vacancy left by gift store, Serendipity. Sweet Tooth Candy Shoppe offers kids and adults an emporium of delight with a range of candy offerings including retro sweets, bulk candies and chocolate treats. “Sweet Tooth Candy Shoppe had been eager find a space in the Old Mill and we were fortunate to have this window of opportunity,” said Huntamer, who represented the local tenant in the negotiation.
Adding to Compass Commercial’s increase in retail activity over the last few months, Huntamer noted that he and Compass’ Partner, Steve Toomey recently signed a long-term lease with a national tenant to take on 2,329 square feet in Bend River Promenade along Business Highway 97. The tenant was represented by Ron Ross, CCIM with Compass Commercial.
According to Compass Points, Compass Commercial’s quarterly commercial real estate market survey, retail vacancies rose in the first quarter of 2012 with only two submarkets in Bend experiencing positive absorption (South 97 and Bend’s east side). However, Compass Commercial’s Q2 report releasing this month notes that the city-wide retail vacancy dropped from 9% to 8.8%. Three of the seven retail market areas surveyed experienced positive absorption over Q2, while four lost ground slightly.
“We are clearly in the midst of an uptick, given the demand we are seeing across the board, especially on the retail front,” said Huntamer.