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Face Masks Requirements

Keep Businesses Open – Wear a Face Mask

by Compass Commercialon 7 July 2020in

Starting July 1, face masks will be required in indoor public spaces in the state of Oregon. We hope to keep our local businesses open by following the below guidelines:

  • We encourage all visitors to wear a mask upon arrival. If you do not have a mask, we are happy to provide a disposable one.
  • Follow social distancing guidelines of 6 ft.
  • Use hand sanitizer when entering the office and wash hands frequently.
  • Avoid touching your face and mouth.
  • Stay at home if you are not feeling well (fever, chills, coughing, or shortness of breath).
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CARES Act

Federal Aid Granted to Independent Contractors

by Compass Commercialon 6 April 2020in

A two trillion-dollar stimulus package was passed by the Senate on Wednesday, March 25. The Coronavirus Aid, Relief and Economic Security Act (CARES Act) is intended to help businesses, households and independent contractors during this pandemic. The National Association of REALTORS® played a major roll in procuring aid for independent contractors.

Realtors can now benefit from this relief package, which includes direct payments from the U.S. Government to individuals and households, unemployment insurance, expanded sick and paid family leave and no/low-interest rate loans. Other benefits include student loan relief, tax payment relief/deferrals, mortgage payment and foreclosure relief and insurance premium relief. See a complete list of the financial benefits here.

The CARES Act now includes the Paycheck Protection Program (PPP), which helps businesses keep their employees employed.

Small Business Owners Guide to the CARES Act

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SBA Loan

Small Business Loans Available

by Compass Commercialon 30 March 2020in

The Small Business Administration (SBA) approved Governor Brown’s request for emergency loans for small businesses on Friday, March 20. Senators Ron Wyden and Jeff Merkley, along with other Oregon congresspeople wrote to the SBA pleading for the loan.

By declaring the State of Oregon as an “Economic Disaster,” this low-interest loan became available to businesses, renters and homeowners suffering from the economic impact of COVID-19. The loan offers up to $2 million in assistance to help overcome the temporary loss of revenue. Interest rates for small businesses are at 3.75% and non-profits’ interest rates are at 2.75% with long-term repayments.

Apply for the Economic Injury Disaster Loan (EIDL) here.

Compass Commercial encourages and supports the success of our local businesses during these tough times. All of our brokers and property managers can easily be reached by email or cell for questions. Our property management maintenance team will continue to work in the field to ensure our managed properties are maintained. Our construction services team is still working and ready to help with any tenant improvements.

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Realtors & Property Managers Resources

RESOURCES: For Realtors and Property Managers

by Compass Commercialon 30 March 2020in

The COVID-19 virus is causing changes in our day-to-day behavior, personally and professionally. The real estate community is stepping up to provide resources and educational courses online through webinars with a variety of resources and guides.

Resource Guides:

  • OREF has the most recent real estate forms, including an addendum for an automatic extension for transaction deadlines.
  • The Senate passed legislation to support Realtors®, brokers and associations during COVID-19. The “Families First Coronavirus Response Act” can be viewed here.
  • Oregon Association of Realtors (OAR) online resource guide
  • National Association of Realtors online resource guide

Online Continued Education:

  • OAR members can gain access to online webinars now through April 18 here.
  • With forms of business moving online these days, prepare your team to be online with IREM’s Form Your Virtual Team Once your team is set up Lead Your Virtual Team with their online course.
  • IREM offers a variety of continuing education courses here
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COVID-19 Executive Order

Governor Brown Issues Stay Home, Save Lives Order

by Compass Commercialon 25 March 2020in

On Monday, March 23, Oregon Governor Kate Brown announced a new Executive Order detailing the new “stay home, save lives” requirements.

The order outlines social distancing conditions, such as the prohibition of all social gatherings and a safe distance of six feet between individuals. It also lists other business types set to close, including retailers, gyms, yoga studios, barber shops and hair salons, bowling alleys, spas, theaters, etc.

Those not included were restaurants, bars and cafes with the requirement of take-out or delivery options only. Businesses are encouraged to allow their employees to work from home if options are available. Medical facilities and grocery stores are deemed essential and as a result are excluded from the list and will remain open.

The Executive Order will remain in effect until terminated by the Governor.

Compass Commercial intends to follow safe workplace practices and all members of our team can easily be reached by their email or cell and are ready to help. Our maintenance and construction services teams will continue to work in the office and the field.

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Community

RESOURCES: For the Community

by Compass Commercialon 24 March 2020in

With the recent “Stay Home, Save Lives” policy passed by Governor Brown, employees are looking for ways to succeed in their careers from home. So is true for the many restaurants switching over to delivery and pick-up orders. With all that is happening, now is the time to continue to support our community and the businesses that make Central Oregon such a special place.

  • Central Oregon Health Council online resource guide with daily updates
  • Support local businesses Shop Small – Redmond Guide
  • Support local restaurants and keep up to date with the 2020 Take-out Guide
  • Stay healthy with tips from the CDC
  • Learn more about social distancing from the CDC
  • Resources For Central Oregon Employers, Employees and the Community
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Neff Place

NEFF PLACE

by Lisaon 20 March 2020in

CLIENT: Killian Pacific

SERVICES: Preleasing of the property prior to development. Brokerage was involved in representing the developer and tenants. Compass Commercial has managed the property since it was developed.

LOCATION: 1500 NE Cushing Dr., Bend, OR

CHALLENGE & SOLUTION: The challenge was to obtain 50% preleasing of the project in order to obtain financing. Compass was able to lease over 50% of the project prior to financing approval and more than 85% of the project was leased prior to commencement of construction to Jackson’s Corner, Café Yumm! and SportClips.

In addition to the leasing needs of the developer, their long-term plan was to sell the property. Compass brokers, Russell Huntamer and Jay Lyons were working with Killian Pacific helping to satisfy their 1031 Exchange needs and were made aware of the possibility that the property was available for purchase, although it was not being marketed at the time. The end-result was a successful sale for the developer and a successful 1031 tax deferred exchange for the current owner.

The property is fully stabilized and is greatly benefitted by successful tenants. It should be noted that two new 8,000 sq. ft. buildings are slated for development to the east of the property with leases pending for 65% of the available spaces. This new project is known as East End and Compass Commercial is leasing broker for this project as well.

BROKERS: Russell Huntamer, CCIM  |
Jay Lyons, SIOR, CCIM  |  Grant Schultz

PROPERTY MANAGERS: Jackie Niebling, CCIM, CPM®, CRRP  |  Caroline McDonald, RPA®

What can we do for you?

 

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Small Business Resources

RESOURCES: For Small Businesses

by Compass Commercialon 19 March 2020in

At Compass Commercial, we understand how difficult the COVID-19 pandemic can be for small businesses and employers. Companies throughout Central Oregon have come together to share resources for businesses to access during this difficult time.

  • Oregon SBDC Network COVID-19 Resource List
  • America’s SBDC COVID-19 Small Business Resources
  • Small Business Administration COVID-19 Small Business Guidance
  • Business Oregon COVID-19 Financial Resources for Businesses
  • State of Oregon Employment Department COVID-19-related Information
  • Oregon Department of Revenue Tax Relief Options
  • East Cascades Works: Coronavirus, Business and Worksource Resources
  • American Hotel & Lodging Association Resources
  • Oregon Restaurant & Lodging Association Resources
  • Oregon Entrepreneurs Network Resources
  • Business Oregon: Business Survival Tips
  • Economic Development for Central Oregon (EDCO) released a list of in-house resources as well as community resources for business owners.
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Conference Call

HOW TO: Video Conference for Your Business

by Compass Commercialon 19 March 2020in

With recent office closures and employees working remotely throughout the country, the way of conducting business has changed. No longer is it customary to go into an office or conference room for a meeting. Due to the COVID-19 viral outbreak, video conferencing has become the new normal.

Below, you will find different tools you can use to conduct your regularly scheduled meetings. Most can be downloaded as an app for mobile purposes or installed directly onto your computer.

  1. Zoom: Great for frequent video chats and meetings. Their free package allows up to 40 minutes of video chatting with team members. Through their help center, they offer live training webinars.
  2. Microsoft Teams: Included in the Microsoft 365 package, Teams is great for companies looking to share files and communicate through its chat function or video conferencing. You can find multiple training videos here.
  3. Google Hangouts: If you have a Google account, you already have Google Hangouts. By simply opening a new tab and clicking on the menu button on the upper right-hand corner, scroll down until you see the Hangouts logo. Learn more about how to use Hangouts here.

Please use this as a resource for you next conference meeting. We at Compass Commercial encourage video conferencing for meetings throughout the course of the pandemic.

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Frank's Landing

FRANK’S LANDING

by Lisaon 19 March 2020in

CLIENT: Concourse 97, LLC (previous owner)  |  Frank’s Landing, LLC (current owner)

SERVICES: Leasing and the subsequent sale of the entire shopping center as well as property management and construction of tenant improvements.

LOCATION: 3853 sw 21st Place, Redmond, OR

CHALLENGE & SOLUTION: The original assignment was to lease multiple spaces that had been vacant for an extended period. The shopping center had struggled to achieve 100 % occupancy since it was developed in 2005.

Compass Commercial was able to lease the vacant spaces within six months of obtaining the assignment. Once the property was fully leased, the previous owner elected to sell the property and we were able to achieve a quick sale to a 1031 exchange investor.

Shortly after the sale closed, Straw Hat Pizza and Northwest Community Credit Union vacated their spaces. Through our marketing efforts we were able to lease the credit union space to the Oregon DMV and the restaurant space to Sora Sushi, a qualified and successful restaurant operator. Compass Commercial Construction Services built out the tenant improvements for the DMV. The property continues to enjoy 100% occupancy and synergy with thriving, stable tenants.

BROKERS: Peter May, CCIM  |  Russell Huntamer, CCIM

PROPERTY MANAGERS: Jackie Niebling, CCIM, CPM®, CRRP  |  Luke Ross

CONSTRUCTION CREW: Steve Hendley  |  Dale Hendley  |  Tom Snell  |  Carl Clements

What can we do for you?

 

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  • 541-383-2444
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