On Monday, June 7th, Compass Commercial brokers Howard Friedman, CCIM, Jay Lyons, CCIM, SIOR and Grant Schultz were awarded the EnCOAR Transaction of the Year award for their work on the sale of Post Office Plaza at 777 NW Wall Street in Bend. Brian Fratzke with Fratzke Commercial Real Estate was also a recipient of the award for his work on the same transaction representing the buyer.
“It took a team to accomplish the successful transaction,” Friedman said. “Compass Commercial Asset & Property Management Vice President Jackie Niebling, CCIM, CPM®, CCRP and former Compass Commercial property manager Herb Arathoon, CPM®, along with Compass Commercial Construction Services Manager Steve Hendley were instrumental in the deal.”
Friedman has been involved in leasing the historic Post Office Plaza building since the start of his career over 22 years ago. After the original owners passed away and willed the property to their daughter and son-in-law, they decided they no longer wanted to own the property. They then hired Compass Commercial to analyze, value and sell the asset.
The building sold for $4,300,000 in December of 2020. The new owners intend to redevelop the property to meet modern standards while still maintaining the building’s historical integrity.