Mattress Factory to lease old Hancock Fabrics Building

by Compass Commercialon 20 December 2016in Press Releases

Compass Commercial Real Estate Services is pleased to announce the lease of the building that once housed Hancock Fabrics and Moxy Salon & Spa at 63040 North Highway 97, Bend, OR. The 5,000 sq. ft. section of the building that held Moxy Salon has been vacant for about 5 years. Hancock Fabrics occupied 15,000 sq.ft. of the building. After Hancock Fabrics closed its doors in February 2016, the full 20,000 sq. ft. building was vacant and listed through Compass Commercial brokers Russell Huntamer, CCIM and Joel Thomas.

Compass Commercial Real Estate Services is pleased to announce the lease of the building that once housed Hancock Fabrics and Moxy Salon & Spa at 63040 North Highway 97, Bend, OR. The 5,000 sq. ft. section of the building that held Moxy Salon has been vacant for about 5 years. Hancock Fabrics occupied 15,000 sq.ft. of the building….

Announcing 2015 Top Producers and New President

by Compass Commercialon 4 February 2016in Compass Commercial News

BEND, OR, February 4, 2016 — Compass Commercial Real Estate Services is pleased to announce Erich Schultz, SIOR was awarded 2015 Top Producer status based on his total production throughout the year. In addition, the company last week announced the appointment of Pat Kesgard, CCIM as incoming president at the company’s annual meeting and awards ceremony.

Schultz has been a consistent high performer earning Compass Commercial’s Top Producer Award in 2007, 2011, 2012 and 2014. In 2015, Schultz participated in several notable transactions, including the sale of 1133 NW Wall Street for $8,000,000; the sale of 20870 Redside Court for $4,500,000, and the sale of 760 NW York Drive in Northwest Crossing for an undisclosed value.

Kesgard joined Compass Commercial in 2011 and became a shareholder of the company in 2014 at which time he was elected to serve two-years as Vice President of Sales and Marketing.

Additional awards presented to brokers for 2015 achievements included:

2015 Largest Sale Transaction awarded to Ron Ross, CCIM, Erich Schultz, SIOR, Jay Lyons, CCIM and Terry O’Neil, Broker for representing the investment sale of 1133 Wall Street in Bend for $8,000,000.
2015 Largest Lease Transaction awarded to Peter May, CCIM and Russell Huntamer, CCIM (representing both the lessor and lessee), and Gardner Williams, SIOR and Bruce Kemp, CCIM for representing the lessee in the long term lease of a 44,000 square foot industrial property located at 63065 18^th Street in Bend.

Monthly Top Producers throughout the year were announced as follows:

Erich Schultz, SIOR – January, February, March, November
Ron Ross, CCIM – April
Peter May, CCIM – May, June
Pat Kesgard, CCIM – July, September, October
Terry O’Neil, Broker – August
Robert Raimondi, CCIM – December

In addition to Kesgard’s appointment as president, the company announced partner members elected to serve three-year terms as corporate officers as follows:

Erich Schultz, SIOR – Vice President of Sales
John Keba, CPM®, ARM® – Vice President of Asset & Property Management and Vice President of Finance
Howard Friedman, CCIM – Principal Broker, Vice President of Market Research
Lupita Wesseler – Vice President of Operations
Krista Polvi, CPM – Corporate Secretary

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.

Compass Points: Q2 2015 Market Summary

by Compass Commercialon 24 July 2015in Compass Points Market Report, Local Economy & Community, Market Research

By the Compass Points Editorial Team

Since our last market update, Bend has experienced a few notable (and frequently debated) developments. On July 7, the the City of Bend announced the Urban Growth Boundary (UGB) Steering Committee’s approval of three expansion scenarios presented by the Boundary Tactical Advisory Committee (TAC) for further evaluation. The scenarios were whittled down from different areas based on the relative suitability for future growth and development. View the scenario maps and read about the proposed land uses at bendoregon.gov.

Q2 also marked the beginning of construction for OSU-Cascades’ four-year university campus. The 10-acre site on Bend’s west side comprises three new buildings including a residence hall that’s slated to house approximately 300 students. (There is now a live webcam of construction on the campus).

With these advances, you might surmise that Bend’s commercial real estate market would experience a continual decrease in vacancy, but our current data shows a fluctuation in the opposite direction. Q2 2015 data shows what may appear as a setback but our assessment is that this represents a typical market fluctuation as businesses expand and contract in a healthy market.

Citywide office vacancy rates increased from 8.9% to 9.2% with 6,600 sq. ft. of negative absorption reported. New vacancies included 14,000 sq. ft. in the RiverPoint One building at 1201 NW Wall St., Mosaic Medical vacating 12,000 sq. ft. at 409 NE Greenwood Ave. and 4,108 sq. ft. coming online at 705 SW Bonnett Way in the Mill Point Business Campus. The latter vacancy was the result of digital marketing company, Choose Growth expanding to occupy 9,507 sq. ft. at 20300 Empire Ave.

By the Compass Points Editorial Team Since our last market update, Bend has experienced a few notable (and frequently debated) developments. On July 7, the the City of Bend announced the Urban Growth Boundary (UGB) Steering Committee’s approval of three expansion scenarios presented by the Boundary Tactical Advisory Committee (TAC) for further evaluation. The scenarios were…

Compass Commercial Real Estate Services Welcomes Weaver to Asset & Property Management Team

by Compass Commercialon 19 February 2015in Compass Commercial News, Press Releases

Paul Weaver, Regional Property Manager

Compass Commercial Real Estate Services is pleased to announce Paul Weaver has joined the firm’s asset and property management division as a regional property manager.

Weaver brings his nearly 20 years of real estate experience in all aspects of commercial property management to the company. Most recently, he was a property manager with Wallace Properties out of Bellevue, Washington and prior to that served as a property manager with Morris Piha Real Estate in Bellevue.

Weaver’s experience includes managing extensive client portfolios and numerous properties in excess of 500,000 square feet spanning a variety of property types, including retail, office, medical and light industrial.

Paul Weaver, Regional Property Manager Compass Commercial Real Estate Services is pleased to announce Paul Weaver has joined the firm’s asset and property management division as a regional property manager. Weaver brings his nearly 20 years of real estate experience in all aspects of commercial property management to the company. Most recently,…

6 Steps to Successfully Sell Your Business

by Compass Commercialon 28 May 2014in Advisor Insights, Business Sales, FAQ: Common CRE Questions, Peter May, CCIM

1. Expectations

After all the blood, sweat and tears you’ve put into your business, sometimes it’s hard to separate yourself to be able to accurately evaluate the true value of your business. We will provide a broker’s Opinion of Value based on industry comparable information, current market multiples, and buyer expectations of ROI and terms.

2. Data

We do all the fact finding to get your best price: inventory, lease terms, and financials. Then we put it together for buyers in a confidential marketing package.

3. Marketing

We realize the importance of discretion and confidentiality. ALL of your potential buyers sign NDA’s. We work our database, co-brokers, web and print to find qualified prospects.

4. Qualifying

All potential buyers complete a registration form, pass financial and credit screens, and are further qualified in introductions to you.

5. Negotiations

When it comes to prices and paperwork we facilitate the meetings, deliver the offers, craft your responses and requests and clarify contract terms.

6. Closing

A successful business transfer often involves attorneys, accountants, escrow agents and plenty of due diligence. We communicate all the way through, facilitating the countless details until you are closed.

Three things in three years — what are the top three priorities for Bend’s future?

by Compass Commercialon 5 February 2014in Economic Development

Compass Commercial Partner, Darren Powderly, CCIM recently made the rounds as a featured speaker at several high profile business events in Bend. At the Bend Chamber’s town hall panel discussion held at Volcanic Theater Pub last month, Powderly shared the stage with Robert Kieffer (Facebook), Todd Taylor (President, Taylor NW) and Jim Coonan (EDCO Bend Venture Catalyst Manager) to talk about their vision for Bend’s future success and what they identify as key priorities to drive the region’s economic growth.

Powderly’s key priorities to drive Bend’s economic growth are what he coined, “The Three S’s” — Students, Start-ups and Sustainability. Below he provides a summary of his vision:

Compass Commercial Partner, Darren Powderly, CCIM recently made the rounds as a featured speaker at several high profile business events in Bend. At the Bend Chamber’s town hall panel discussion held at Volcanic Theater Pub last month, Powderly shared the stage with Robert Kieffer (Facebook), Todd Taylor (President, Taylor NW) and Jim Coonan (EDCO Bend Venture…

Ten Things to Know When Buying a Business

by Compass Commercialon 28 August 2013in Advisor Insights, Business Sales, FAQ: Common CRE Questions, Peter May, CCIM

By Peter May, CCIM

Buying a business can be a daunting task. Most buyers are faced with challenges they have never encountered. When you work with Compass Commercial we offer experience and sound advice to get you to your goals.

1. Goals

You’ll need to define and refine your goals in any business purchase. We help by asking about your preferred business type, your motivation and your requirements.

2. Finances

What can you pay? We help define what you can realistically acquire, including your ability to attain financing. We will educate you on financing availability and the terms of the deal.

3. Strategy

We work with you to outline a plan from the beginning of your search through business ownership. We make sure that you are positioned to succeed after the keys are turned over.

4. Team

You’ll need other professionals besides our brokers to pull a purchase together. We will guide you to professionals when it’s time to consult attorneys, accountants, bankers and other brokers.

5. Search

You may not feel comfortable contacting local businesses about their availability for sale. We do it all the time. As professional business brokers, it’s part of our job to contact specific businesses on your behalf in an effort to determine the current owners’ interest in selling. We are members of national business brokers’ networks, which allow us to cast a wider net if your interests grow outside Central Oregon.

6. Review

You’ll save time by having us drill down the facts and cull opportunities that are unrealistic or deceptive. There are some key indicators of stability (or instability) that we review and will bring to your attention.

7. Offer

We can work with your legal council to help craft the Offer to Purchase Agreement or use our standard letter of intent. We will help develop price and terms that make sense for you and promote your success.

8. Investigate

Offers are written with a window of time dedicated to Due Diligence. This process is key to determining the viability of the business and its fit for you. We know what to look for in discovery on your behalf. You’ll avoid making a hasty or not fully informed decision.

9. Negotiate

Most buyers have never bought a business before and our expertise in this area can mean the difference of thousands of dollars. We genuinely strive to make the transaction truly a “win-win” for all parties.

10. Close

As they say, “It ain’t over ’til it’s over.” We can help facilitate this process all the way through to the signing table, communicating with the selling party to improve the chances of closing the deal. A successful and satisfying transfer is our goal.

Tag : Compass Commercial Real Estate