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Tag : Bend Retail

Bend Cascade Village aerial

Opportunities for Retail Investment and Development

by on 25 May 2016in Retail & Restaurants

Compass Commercial’s retail team closed out their final day in Las Vegas at the International Council of Shopping Centers’ RECon 2016, the largest retail convention in the industry.

Buzz captured from the convention floor by NREI Online included the notion that, “…the opportunity for investment and development (seems to be) moving to urban cores in secondary and tertiary markets…” We concur!

Read more of NREIOnline‘s daily reports from Day One and Day Two @ICSC.

Check out Compass Commercial’s retail listings HERE.

 

 

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Central Oregon CRE Update – Jan/Feb 2016 Transactions

by on 17 March 2016in Transaction News

BEND, OR – Compass Commercial Real Estate Services is pleased to announce a selection of commercial real estate transactions recently closed by the firm.

Crane Shed, LLC sold a 2-acre MR zoned parcel located at 721 SW Industrial Way in Bend to Billings Development Group, LLC.  Compass Commercial brokers, Erich Schultz, SIOR and Jay Lyons, CCIM represented the seller, and Stephen Toomey, CCIM represented the buyer. Construction has begun in the development of a Springhill Suites hotel on the site. The value of the transaction was not disclosed.

CPC Properties, LLC sold a 20,500 sq. ft. industrial property situated on 1.97 acres at 20554 Builders Court in Bend to BFB Group, LLC. Compass Commercial brokers Howard Friedman, CCIM, Erich Schultz, SIOR and Jay Lyons, CCIM represented the seller. The transaction closed at $1,700,000.

Lynn F. Edwards Rev. Trust sold 10 condo units totaling 5,320 square feet situated on a 1.30 acre lot at 1302 NW Knoxville Blvd. in Bend to Sundog Holdings, LLC. Compass Commercial broker, Dan Kemp represented the buyer. The transaction value was $1,275,000.

A Private Trust sold three retail parcels totaling 30,800 square feet at 1203, 1225 and 1233 NE Third Street to Oakmont REI, LLC for  an undisclosed value. Compass Commercial brokers, Howard Friedman, CCIM and Herb Arathoon, CPM® represented the seller, and Joel Thomas and Pat Kesgard, CCIM represented the buyer.

Fortuna Land & Trade, LLC sold a 12,090 square foot building located at 641 SW Umatilla Avenue in Redmond to Roman Catholic Bishop of DOB. Compass Commercial brokers, Pat Kesgard, CCIM and Joel Thomas represented both the seller and buyer in the sale transaction valued at $1,200,000.

Backsen Enterprises, Inc. sold a 7,200 square foot industrial building situated on 1.16-acres at 63353 Nels Anderson Road in Bend to SDP Development, LLC for a transaction value of $650,000. Erich Schultz, SIOR and Jay Lyons, CCIM of Compass Commercial represented the seller.

Aero Facilities, LLC sold two build-to-suit hangar properties at the Bend Airport located at 63205 Gibson Air Road for a combined value of $555,000.  Richard A. and Sarah A. Mayes purchased a 4,200 square foot hangar (unit # 49) for $325,000 and in a separate transaction, Silvano Gai Trust purchased 3,300 square feet (units 52-60) for $230,000. Compass Commercial broker Robert Raimondi, CCIM represented Aero Facilities, LLC and Silvano Gai Trust; Josh Hanson with Strategic Realty, LLC represented the Mayes Family.

Erich Schultz, SIOR and Jay Lyons, CCIM of Compass Commercial represented Kirk Reynolds in the sale of 43,560 square feet of land located at 154 W. Adams Avenue in Sisters to Paul Pinion and Jill Eby. The transaction was valued at $475,000.

Compass Commercial brokers, Erich Schultz, SIOR, Jay Lyons, CCIM and Graham Dent represented the lessor, Property Systems, Inc., and Dan Kemp represented the lessee, Back in Action Fitness in the lease of 4,246 square feet of retail space located at 1310 SE Reed Market Road in Bend. The tenant is relocating and expanding its fitness equipment sales and repair business.

Century Park, LLC leased 1,784 square feet of retail space located at 320 SW Century Drive in Bend to The UPS Store.  Erich Schultz, SIOR and Jay Lyons, CCIM with Compass Commercial represented the lessor in the lease negotiation.

Rio Claro, LLC leased a 2,077 square foot office located at 150 NW Pacific Park Lane in Bend to the State of Oregon DOJ. Compass Commercial brokers, Howard Friedman, CCIM and Krista Polvi, CPM® represented the lessor in the lease negotiation.

Compass Commercial brokers, Ron Ross, CCIM and Terry O’Neil represented the tenant, Philip H. Garrow, LLC in the lease of 2,261 square feet of office space at 250 NW Franklin Avenue, Suite 303 in Bend from Alexander Drake Building Associates.

About Compass Commercial Real Estate Services
With integrated services in brokerage sales, leasing, asset and property management and construction services, Compass Commercial helps buyers, sellers, landlords and tenants achieve their unique commercial real estate goals.  Today, the company celebrates 20 years of serving clients in Central Oregon, continuing a tradition of excellent client service and superior market intelligence. The team’s collective industry expertise includes Central Oregon’s only two Society of Industrial and Office Realtors (SIOR®) designees, 11 Certified Commercial Investment Members (CCIM), 3 Certified Property Manager (CPM®) designees and the distinguished Accredited Management Organization (AMO®) designation from the Institute of Real Estate Management.  Learn more at www.compasscommercial.com.  Follow us on Twitter @CompassCom.

Retail & Restaurants Update

Retail & Restaurant Bites

by on 9 February 2016in Retail & Restaurants

Barrio 2Barrio is expanding to a new location downtown. The Latin-inspired restaurant is taking the space at 915 NW Wall Street recently vacated by Sweet Saigon. The new location will triple Barrio’s current seating capacity with an increase from 1,554 sq. ft. to 3,600 sq. ft. plus a large outdoor back patio facing Brooks Street and the Deschutes River. “The outdoor dining deck space on Brooks Street behind the restaurant was an attractive feature to Barrio’s owners,” said Russell Huntamer, CCIM, who represented their lease negotiation and purchase of the existing fixtures and equipment within the space. Barrio plans to be ready to open in the new location by March 1st. An undisclosed tenant is in lease negotiations to take the soon to be vacant space at 163 NW Minnesota Ave.  Sweet Saigon’s owners will continue to focus on enhancing their successful Third St. restaurant, PHO Viet & Cafe.

Bangers & Brews is taking over the former Hot Rock Pizza space at 1288 SW Simpson Avenue to offer Bend brew enthusiasts an authentic Argentinian and German influenced menu and a wide selection of micro-brews. The restaurant owners plan to reconfigure the existing outdoor patio space to offer expanded seating. Bangers & Brews has target plans for a spring opening.

InJoy Salon opened in December at Brookswood Meadow Plaza, southwest Bend’s uniquely local shopping center and offers a wide variety of beauty and relaxation services including hair styling, nails, facials and massage.

After a successful expansion of their bakery in downtown Bend, La Magie Bakery & Café is opening a second location in Sisters. The café has leased a 3,943 sq. ft. space located at 473 E. Hood Avenue.  The new cafe should be up and running within the next two months and will feature La Magie’s signature breakfasts, pastries, cakes and libations. Currently under remodel, the building space will be transformed into a local gathering place with La Magie’s flair for the creative, with a comfortable and inviting atmosphere. “We are very excited to see another quality restaurant option for the City of Sisters,”  said Howard Friedman, CCIM who represented both the landlord and La Magie  in the lease negotiation. “La Magie has proven success in the Bend market, with breakfast offerings, lunches and baked goods that I think are second to none. I am sure they will fit in nicely to the Sisters community,” he said.