Bend River Promenade
Shopping Center / 3148 N Highway 97, Bend, OR
This is a once in a lifetime opportunity to acquire a premium grocery-anchored power center in one of the most dynamic lifestyle markets in the USA. The Bend River Promenade brings in a high volume of shoppers being anchored by TJ Maxx, Macy’s, Natural Grocers and Hobby Lobby. Almost 54,000 cars per day drive by the center on US Highway 97 (Bend Parkway) with an additional 38,900 on the parallel Business Highway 97 giving this property prime visibility with excellent dual signage. Tenants have experienced impressive year-over-year store sales at the center. The Bend location is one of TJ Maxx’s top performing stores and has experienced an average 9% yearly increase over the past seven years.
Bend is one of the fastest growing cities in the United States and offers a strong and growing customer base. It has been rated as the best performing small city in the US by the Milken Institute for three years in a row. Bend also has been rated the best small city for business and career by Forbes Magazine.
With the scenic Deschutes River just across the street and two of the area’s finest motels and convention center on the banks of the river, the Bend River Promenade becomes one of the first shopping areas visitors experience while exploring Central Oregon.
Price: $47,900,000
Cap Rate: 5.5%
Location: Central Bend, Oregon
Property Type: Regional Shopping Center
Zone: Commercial General (CG)
Bldg. Size: 252,147 SF
Contact: Russell Huntamer, CCIM | Peter May, CCIM | Tom Standish, Broker
Listing: View LoopNet Listing