We are pleased to announce the sale of the 106,773 square foot industrial building located at 20735 High Desert Lane in Bend for the price of $16.3 million. Compass Commercial brokers Dan Kemp, Erich Schultz, SIOR, Jay Lyons, SIOR, CCIM and Grant Schultz represented the seller, a Pacific Northwest based real estate investor. The buyer, Moreland Station Apartments, LLC was represented by broker Todd Collins of Macadam Forbes based in Portland. The transaction was finalized Friday, September 8, 2017.
The structure was constructed on 7.74 acres in 2002 and consists of 93,840 square feet of warehouse and 12,933 square feet of office space. The property is located in the North Brinson Business Park on the northeast side of Bend. Companies in close proximity include FedEx, 10 Barrel, Humm Kombucha, and Jeld-Wen among others.
The building is fully leased out to Columbia Distributing on a long-term basis. Columbia Distributing is a beverage distribution company that has been in business since 1935. The company distributes alcoholic, nonalcoholic beverages and snacks, and they “boast an extensive selection of beverages, including specialty craft, domestic and imported beers.” With distribution to more than 20,000 retail customers throughout Washington, Oregon and California, they work with multiple large companies like Miller-Coors as well as hundreds of local craft brewers.
If you have questions about this transaction, please contact Dan Kemp or Erich Schultz at Compass Commercial Real Estate Services at 541.383.2444.