On Friday, December 20, our Asset & Property Management team spent the afternoon giving back to the community at Bethlehem Inn in Bend. The team was given a tour of the new facility and helped in the kitchen preparing and cooking food with chef extraordinaire Howard Friedman. Howard is a partner at Compass Commercial and is heavily involved at Bethlehem Inn serving as board president and volunteering throughout the year. Together, they prepared a full meal including fresh-baked bread, Caesar salad with homemade dressing, stroganoff with locally made Italian sausage from Butcher Boys in Prineville, served on fusilli pasta, and fresh-baked oatmeal cookies for dessert. They served the meal to approximately 150 residents.
Bend REALTOR® Wins 2019 Distinguished Service Award
I would like to take this opportunity to report on an exceptional individual in our real estate community, who, with full disclosure, happens to be my brother.
Lester Friedman, Broker with Coldwell Banker Bain, was recently awarded the Distinguished Service Award by the Oregon Association of REALTORS®, along with fellow REALTOR® Don Livingood of Medford. The award has been presented to just 30 REALTORS® since 1993, and since that time only four Central Oregon recipients have been chosen. Lester joins local REALTORS® Everett Turner, Mike Kozak and Michael Hoover in that prestigious DSA club.
The OAR Distinguished Service Award (DSA) was established in 1993 to recognize outstanding service and contributions to the Association over a period of at least 10 years. Criteria for the award includes service in areas such as committee membership, committee leadership, and service as a state director, officer or National Association of REALTORS® director. Lester is a member of the Central Oregon Association of REALTORS® and has been active in residential and commercial transactions and education for over 20 years. In 2012, Lester was also awarded the Central Oregon Association of REALTORS® REALTOR® of the Year (ROTY) award. The Local ROTY program is designed to recognize a REALTOR® member of each Local Association/Board in Oregon who has provided outstanding service to the REALTOR® organizations (local, state and national), their profession, and their community primarily during the previous 18 months. According to the DSA selection criteria, no recipient of the ROTY award may be eligible for the Distinguished Service Award until five years have elapsed from their ROTY award. Lester is very well respected by his peers, and provides unparalleled access to his wealth of knowledge about all things real estate related.
Lester has also been active at the state and national levels for real estate since being licensed in 1999. He has been a voice for real estate on the Political Affairs Committee, ROTY Committee and Professional Development Committee. For more than ten years, he has served as a State Director. Lester is very active in the local community as well, serving on the Central Oregon Community College Budget Committee, the Bend Chief’s Citizen’s Advisory Committee and has been a Mt. Bachelor Mountain Ambassador for many years, assisting guests with a top notch experience while visiting the mountain to ski or snowboard. Lester was selected as the recipient of the 2019 OAR Distinguished Service Award by the REALTOR® of the Year Committee, based on his outstanding legacy of work in his local, state, and national REALTOR® communities. Congratulations, Lester and thanks for all you do in the community and our profession!
Howard Friedman, CCIM, is a Partner and Managing Principal Broker at Compass Commercial. He joined the firm in 1999.
(Photo Courtesy of Bethlehem Inn)
Howard Friedman, CCIM has been with Compass Commercial Real Estate Services since 1998, just two years after the inception of the brokerage firm. He has also been greatly involved in the community of Central Oregon, with his roots in the restaurant industry previous to becoming a real estate broker. For the past twelve years, Howard and his wife Nancy have volunteered at Bethlehem Inn, which provides emergency transitional housing and services for people struggling with poverty and homelessness in our community.
After retiring from the restaurant business, Friedman took the time to serve meals to the homeless community in Bend. Once a month Howard, Nancy and friends prepare and serve dinner for 70–100 people at Bethlehem Inn. Taking the time to volunteer on a monthly basis in this way has a great return on the small investment of time for the Friedmans. “The gratitude we receive from the people we serve each month stands out as the most rewarding reason to continue serving,” Howard says.
In addition to his involvement with the Inn’s Emergency Meal Program, Howard recently began serving as Vice President for the Bethlehem Inn Board of Directors. In his new role, the need for a new facility became even more apparent to Howard. While the shelter supports over 1,100 people experiencing homelessness each year, this is far short of current and projected needs.
The demand along with aging buildings has ultimately resulted in the launch of an extensive reconstruction of the facility, which started this summer. The new buildings will be built within its current footprint with a design that will “allow nearly 100 single adults and 10 families to transition into a life of self-sufficiency, through a safe, comfortable and loving environment,” according to Howard.
“The Central Oregon community has been very good to us both personally and professionally. When I was in the food service business as a chef and restaurant owner, I always wanted to give back, but there was never enough time. Once I retired from the restaurant world; I was still passionate about food and cooking, and was finally able to take the time to serve meals to the homeless community. It gives us great joy to be able to do so,” Howard said.
The reconstruction of the Inn has been made possible by the generous support of many individuals, foundations and businesses. Early last year, Bethlehem Inn started a capital campaign to raise enough to begin building. So far over $5 million has been raised for Phase I. This fall, they are continuing the campaign entitled Transforming Lives Together to reach the $5.3 million necessary to complete the new Family Residential, Commercial Kitchen and Service Hub. As part of the campaign, a challenge has been issued to members of Central Oregon Realtor Association (COAR) and Central Oregon Builders Association (COBA) to see which organization can raise the most funds for the project.
When reflecting on what his service means, Howard relayed an old story about a child who came upon a multitude of starfish washed up on the beach. As he leaned down to throw them back in the water one by one, an old man walking by said, “What are you doing? There must be thousands of starfish on the beach, you can’t possibly make much of a difference.” The boy picked up another one, tossed it in the water and said, “It made a difference to that one!”
This story is an important illustration of how Howard’s service each month affects positive change in the community. He says, “There is so much need in this world, far more than any one person can do. But one by one, as a community, we CAN make a difference. I wish more people would take the time to volunteer with whatever their passion may be. It will certainly make a difference.”
At Compass Commercial, we are proud to have team members active in our community, serving in more than 15 nonprofits along with other civic and business organizations that help keep the region thriving. In addition, as a company, Compass Commercial has pledged to give $2,500 each year for three years to help support Bethlehem Inn’s new building campaign. Either volunteering time or donating money or in-kind goods can help benefit the community of Central Oregon. Join Howard and our team in serving the community involvement and contact Bethlehem Inn or any one of the local nonprofit organizations to let them know that you are willing to help make a difference.
We would like to announce the sale of the retail condos at Putnam Pointe, located at 750 Lava Road in downtown Bend. The property was sold as an investment and sold for $2,525,000. The deal closed on May 30, 2017 with the seller Housing Works represented by Compass Commercial broker, Howard Friedman, CCIM. According to Friedman, “An out of town investor moving to Bend purchased this building and others in Bend after selling a small shopping center in California. This is a trophy downtown property with 4 quality tenants, anchored by Visit Bend and the Jackalope Grill.” The 8,268 square feet of the ground level retail space is fully leased and is also currently occupied by Studio DeVine Beauty Boutique, Latitude 44° Realty.
The property was built in 2009 zoned as Central Business (CB), including retail space with apartments in the above stories. It is a very unique space, adjacent to the public parking garage, there is resident parking below and a courtyard on the ground level, hidden from the street. The structure has concrete floors at the retail level with a modern, industrial touch. When the property was dedicated in 2009, Cascade Business News covered the event with an article about the building (Read here.). Above the ground floor retail, there are 33 affordable housing apartments and 10 condominiums that Housing Works of Bend manages.
Last October, Compass Commercial Real Estate Services celebrated their 20th anniversary with a benefit event. Proceeds were donated to local nonprofits Bethlehem Inn and Shepherd’s House Ministries. More than $5,000 was raised for each organization for this year at the event. In addition, Compass Commercial promised an additional $2,500 to be gifted to each over the next two years. The money given to Bethlehem Inn went toward the capital campaign to build their new 18,580 square foot facility.
Bethlehem Inn currently has commitments toward their capital campaign and will continue to raise funds until they meet their $4.5 million dollar benchmark. Compass Commercial’s partner and principal broker, Howard Friedman, CCIM has volunteered for Bethlehem Inn for over 10 years as a food preparer and server. He has served for six years on the facility rebuild committee. He joined the Board of Directors in 2016 and is currently serving as vice president.
About Bethlehem Inn
Bethlehem Inn of Bend is a nonprofit supporting individuals and families who find themselves in need of shelter, meals and community resources. They work as an emergency shelter, but also offer meals and case management services for adults and children in Central Oregon. Like many nonprofits, they rely financially on donations from the community as well as some grants from both the government and private foundations. Click here if you would like to donate. Find out more about plans for the new building here.
Compass Commercial Real Estate is pleased to announce the sale of the former Bend Area Habitat for Humanity building. The building is located at 1860 NE 4th St in Bend, directly east of the Albertsons in the Wagner Mall. The sale was brokered by Compass Commercial partner and principal broker Howard Friedman, CCIM. The building is two-story, has multiple offices, a conference room, and is centrally located. The Bend Area Habitat for Humanity will remain in the building under lease until spring of 2017.
Take a look around Bend. Everywhere you go, housing developments are sprouting up. Commercial projects are coming out of the ground for the first time in years. A new four-year university has opened its doors for the first time in Oregon since OHSU opened their Portland medical campus in 1974. Traffic is undeniably heavier than in recent years. And tourism is at an all-time high, according to Visit Bend, on pace for a third record year in a row.
So the big question on everyone’s mind, and one we as real estate professionals are asked frequently is: “Is this a repeat of the frenzy of the mid 2000’s, and should we be wary of another downturn?” Our broken crystal ball notwithstanding, there are several factors that differentiate the situation from the last time we were plunged into a deep recession.
First of all, the banking and mortgage industries seems to have improved their priorities and policies this time around, due in no small part to regulations enacted after the economic crash. More careful scrutiny of borrowers and vetting of their financial wherewithal should ensure that a debtor is more able to fulfill their loan obligation.
A more diverse trade and industry base should also help to stabilize any fluctuations in the regional economy. Whereas Bend’s history went from mainly a lumber town to a tourism and real estate based marketplace, we have seen the last decade bring in a myriad of software and high tech companies, and the OSU-Cascades campus’ opening will certainly help.
But perhaps the leading indicator of stability may be in the number of new commercial projects on the drawing board and popping up throughout the region. Bend Research, one of Bend’s premier employers (and recently purchase by Capsugel) has expanded and is in the process of further growth. 10 Barrel Brewing Company, recently purchased by international powerhouse Anheuser Busch, is building on to its facility off of 18th Street. Hydroflask is doubling the size of its original facility with a new 12,000 sq. ft. headquarters in NorthWest Crossing. Deschutes Brewery continues its expansion after completing its 57,000 square foot warehouse. And St. Charles is underway with a $22 million dollar expansion and renovation of its east Bend facility.
Several notable retail expansions are also in the works. In addition to the ongoing redevelopment of the Box Factory in the Old Mill District, Killian Pacific, a regional development firm based in Vancouver, WA, recently acquired the Neff Place retail project, which currently is leased to Jackson’s Corner, Café Yumm! and Sports Clips across from Bend Memorial Clinic. This project includes land for a second phase and the potential to add another 7,000 sq. ft. of retail or medical office space in the near future.
Finally, with no less than five new hotels just built or on the drawing board in Bend, expect the region to continue to draw tourists year-round to our little corner of the world. We continue to be known as a premier destination for golf, fishing, mountain biking, camping and watersports, and winter recreational opportunities. And with Mt. Bachelor’s new six million dollar Cloudchaser chairlift slated to open this season, making it the first completely new chair lift providing access to previously unserved terrain on the mountain since the opening of the Northwest Express lift in 1996, it makes Mt. Bachelor the fifth largest ski area in the United States, according to Mt. Bachelor’s website, providing 635 acres of new terrain.
So hold on to your hats while strong development remains in the region, and let’s all hope for smart and sustainable expansion to allow us to continue to enjoy our lifestyle in the place we call home.
Howard Friedman, CCIM is a partner and principal broker with Compass Commercial Real Estate Services in Bend, and is the editor of Compass Points, Compass Commercial’s quarterly survey of the regional commercial real estate market. To obtain a copy of the complete Q3 2016 Market Report visit www.compasscommercial.com/market-research.
BEND, OR — Compass Commercial Real Estate Services has released its third quarter 2013 market survey results in the current issue of Compass Points.
The survey reports a citywide office vacancy rate that started at 19.3% at the end of Q2 2013, and dropped significantly, to 17.8% at the end of Q3, representing the fifth consecutive quarterly drop in a row, and the lowest rate in five years, since the fourth quarter of 2008.
In Bend’s retail market, the citywide vacancy fell slightly to 7.7% in the third quarter, compared to 7.8% in Q2 extending the streak of 15 out of 17 quarters of vacancy declines.
BEND, OR — Compass Commercial Real Estate Services has released its third quarter 2013 market survey results in the current issue of Compass Points. The survey reports a citywide office vacancy rate that started at 19.3% at the end of Q2 2013, and dropped significantly, to 17.8% at the end of Q3, representing the fifth…
BEND, OR – Bend is fast becoming one of the best places to open a restaurant. According to Nielsen’s recently released Restaurant Growth Index report, Bend ranks at #155 out of 500 U.S. metropolitan areas using an RGI score calculated on each area’s total restaurant sales and sales as a percent of per capita income, compared to the nation as a whole.
Compass Commercial Real Estate Services is pleased to play a part in the wave of culinary activity happening in Central Oregon.
BEND, OR – Bend is fast becoming one of the best places to open a restaurant. According to Nielsen’s recently released Restaurant Growth Index report, Bend ranks at #155 out of 500 U.S. metropolitan areas using an RGI score calculated on each area’s total restaurant sales and sales as a percent of per capita income,…
BEND, OR – Compass Commercial Real Estate Services has released its first quarter 2013 market survey results in the current issue of Compass Points.
The survey reports a third consecutive quarter of positive absorption in the office market with the citywide office vacancy rate dropping from 21.5 to 20.7%.
In Bend’s retail market, vacancy rose to 8.4% in the first quarter, compared to 8.0% in Q4, but still well below the 9.0% recorded in the first quarter of 2012.
The industrial market witnessed a decrease in vacancy for the sixth straight quarter dropping to 8.99% — nearing the lowest vacancy since the second quarter of 2007.
BEND, OR – Compass Commercial Real Estate Services has released its first quarter 2013 market survey results in the current issue of Compass Points. The survey reports a third consecutive quarter of positive absorption in the office market with the citywide office vacancy rate dropping from 21.5 to 20.7%. In Bend’s retail market, vacancy rose…