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Compass Points Q4 2020

Compass Points Q4 2020 Market Report

by Lauren Evanson 21 January 2021in Compass Points Market Report

Partner and principal broker Howard Friedman, CCIM looks back on 2020 to provide a forecast for 2021. This year, Compass Commercial Real Estate Services celebrates its 25th year as Central Oregon’s premier commercial real estate firm. Since its founding in 1996, the company has grown from just four real estate brokers to a total of 16 with a full in-house staff, Asset & Property Management department and a Construction Services department.

Get the full summary/forecast in the Q4 Market Report.

Bend’s Office Market:

Compass Commercial surveyed 218 office buildings for the fourth quarter 2020 Bend report. The buildings in the sample totaled 2.73 million square feet. Positive net absorption of 2,546 SF was recorded during the quarter, and the vacancy rate dropped slightly, moving from 7.50% in Q3 to 7.41% in Q4. There is now 202,417 SF available for lease, down from 204,963 SF in Q3.

Bend’s Retail Market:

Compass Commercial surveyed 259 retail buildings totaling over 4.5 million square feet for the fourth quarter of 2020. The citywide vacancy rate rose for the fourth quarter in a row from 3.38% at the end of Q3 to 5.81% at the end of Q4, mainly due to one large vacancy noted in the North 97 submarket. An increase of 88,377 SF of vacancy was recorded. There is now 261,827 SF of retail space now available citywide, up from 152,798 SF in Q3.

Bend and Redmond Industrial Markets:

Compass Commercial surveyed 320 buildings for the fourth quarter 2020 industrial report, totaling 4,609,320 square feet. The industrial market gained 40,262 SF of net positive absorption in Q4 and the vacancy rate fell from 3.47% in Q3 to 2.30% in Q4. There is now 108,105 SF of industrial space available for lease in Bend, compared to 159,853 SF in Q3. All four submarkets recorded positive net absorption in Q4 2020.

The Redmond industrial market experienced 3,086 square feet of negative net absorption in the fourth quarter of 2020 for a second straight loss in occupancy. The vacancy rate rose as a result, from 3.50% to 4.30%. Out of Redmond’s industrial sector of 1,663,927 SF total leasable space, there is now 71,075 SF available for lease. There are 88 buildings in the Redmond industrial market that we tally. Four buildings recorded positive absorption and two were negative in Q4.

To view the complete report, sign up to receive our quarterly publication at https://www.compasscommercial.com/POINTS or call (541) 383-2444.

Compass Points is a quarterly publication of Compass Commercial Real Estate Services offering comprehensive surveys of the Central Oregon commercial real estate market. The report provides a detailed look at quarterly vacancy and absorption data in office, retail and industrial product types throughout Bend’s primary submarkets, as well as the Redmond industrial market. Absorption data contained in the report pulls from samples of buildings over 3,000 sq. ft.

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01_2021_Transactions

December 2020 Notable Commercial Transactions

by Lauren Evanson 14 January 2021in Transaction News

Compass Commercial Real Estate Services is pleased to announce notable commercial transactions closed by the firm during the month of December 2020.

Brokers Graham Dent and Robert Raimondi, CCIM of Compass Commercial Real Estate Services represented the seller, US Forest Service, in the sale of the 31.56-acre parcel of USDA Forest Service land located off of Highway 20 in Sisters. The large piece of land sold for $2,818,244.88.

Compass Commercial Real Estate Services brokers Howard Friedman, CCIM, Jay Lyons, SIOR, CCIM and Grant Schultz represented the seller in the sale of 1435 NE 4th Street in Bend. The 6,160 SF office building sold for $1,490,000.

Partner Graham Dent of Compass Commercial Real Estate Services represented the tenant, Prime Lending, in the lease of a 4,783 SF office suite located at 404 SW Columbia Street in Bend. Brokers Jay Lyons, SIOR, CCIM and Grant Schultz of Compass Commercial Real Estate Services represented the landlord, Vision Plaza, LLC.

Compass Commercial Real Estate Services broker Terry O’Neil, CCIM represented the landlord, D&S Hollywood, LLC, in the lease of a 3,616 SF office suite located at 1000 SW Indian Avenue in Redmond.

Brokers Russell Huntamer, CCIM, Jay Lyons, SIOR, CCIM and Grant Schultz of Compass Commercial Real Estate Services represented the landlord, JKC Bend, LLC, in the lease of a 1,168 SF retail suite located at 1462 NE Cushing Drive in Bend. Broker Joel Thomas, CCIM of Compass Commercial Real Estate Services represented the tenant, Three Sisters Nails, LLC.

Compass Commercial Asset & Property Management broker Luke Ross represented the landlord, Allan Bruckner, in the lease of a 2,978 SF office suite located at 19800 SW Village Office Court in Bend.

Brokers Jay Lyons, SIOR, CCIM and Grant Schultz of Compass Commercial Real Estate Services represented the tenant, Compassion Kombucha, LLC, in the lease of a 3,500 SF industrial unit located at 354 SE Logsden Street in Bend.

Compass Commercial Real Estate Services broker Robert Raimondi, CCIM represented both the landlord, Miller Cottages, LLC, and the tenant, Choices Recovery Services, LLC, in the lease of a 2,200 SF medical center located at 51375 S Huntington Road in La Pine.

Broker Terry O’Neil, CCIM of Compass Commercial Real Estate Services and broker Caroline McDonald, RPA® of Compass Commercial Asset & Property Management represented both the landlord, Rathbone LTD, and the tenant, TML International, LLC, in the lease of a 4,200 SF industrial space located at 1842 S 1st Street in Redmond.

Compass Commercial Real Estate Services broker Joel Thomas, CCIM represented the tenant, DOC – Diabetes and Obesity Care, in the lease of a 960 SF office suite located at 185 SW Shevlin Hixon Drive in Bend.

Broker Joel Thomas, CCIM of Compass Commercial Real Estate Services represented the landlord, Allan Bruckner, in the lease of a 3,458 SF retail suite at 1900 NE Division Street in Bend. Broker Luke Ross of Compass Commercial Asset & Property Management represented the tenant, Chaos Billiards Lounge.

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2020_November

November 2020 Notable Transactions

by Lauren Evanson 15 December 2020in Transaction News

Compass Commercial Real Estate Services is pleased to announce notable commercial transactions closed by the firm during the month of November 2020.

Brokers Howard Friedman, CCIM, Jay Lyons, SIOR, CCIM and Grant Schultz of Compass Commercial Real Estate Services represented the seller, Helena Family, LLC, in the sale of 777 NW Wall Street in Bend. The 19,215 SF office building sold for $4,300,000.

Compass Commercial Real Estate Services brokers Ron Ross, CCIM and Terry O’Neil, CCIM represented the buyer, Summer Skin, LLC, in the acquisition of 62929 N Highway 97 in Bend. Brokers Graham Dent, Jay Lyons, SIOR, CCIM and Grant Schultz of Compass Commercial Real Estate Services represented the seller, Moore Fun Investors, LLC. The 8,409 SF retail building was purchased for $1,700,000.

Compass Commercial Real Estate Services broker Howard Friedman, CCIM represented the tenant, Hale Men’s Clinic, LLC, in the lease of a 3,000 SF retail suite located at 40 SW Century Drive in Bend.

Brokers Graham Dent, Jay Lyons, SIOR, CCIM and Grant Schultz of Compass Commercial Real Estate Services represented both the landlord, Allegiant Partners, Inc, and the tenant, Seran Bio Science, Inc, in the lease of a 3,860 SF industrial suite located at 63056 Lower Meadow Drive in Bend.

Compass Commercial Real Estate Services brokers Joel Thomas, CCIM and Russell Huntamer, CCIM represented the landlord, C.T. Woodard Properties, LLC, in the lease of a 1,710 SF industrial suite located at 2797 NW Clearwater Drive in Bend. The tenant, Sunrise Physio, was represented by principal broker Bruce Churchill of Compass Commercial Real Estate Services.

Broker Joel Thomas, CCIM with Compass Commercial Real Estate Services along with broker Caroline McDonald, RPA® and broker Timmy Regan with Compass Commercial Asset & Property Management represented both the landlord, Basaltic, LLC, and the tenant, Introstem, in the lease of a 1,475 SF retail suite located at 809 NW Wall Street in Bend.

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Post office plaza

Historic Post Office Plaza Sold

by Lauren Evanson 10 December 2020in Press Releases

The historic downtown Bend building known as Post Office Plaza recently sold for $4,300,000. The 19,352 SF building located at 777 NW Wall Street has maintained its location in the heart of Bend’s historical district since 1932. Compass Commercial Real Estate Services brokers Howard Friedman, CCIM, Jay Lyons, SIOR, CCIM and Grant Schultz represented the seller of the property. Brian Fratzke, CCIM and President with Fratzke Commercial Real Estate Advisors Inc., represented the buyer.

The previous family owned the historic landmark since 1998. Friedman worked with the family from the very beginning, later bringing Lyons and Schultz to the table. The property offered a rare opportunity to own a piece of downtown Bend history. Interest was strong out of the gate, with an offer made after a short time on the market.

“This trophy, historic downtown property is a landmark in downtown Bend,” Friedman stated. “It is one of the last and oldest remaining properties that were not razed for development over the last century, like the Pilot Butte Inn, the Crane Shed or the A.M Drake Lodge. The purchase of the property by a quality buyer will ensure its legacy in Central Oregon.”

The buyer, Deschutes Opportunity Commercial Redevelopment, LLC, plans to redevelop the site, while keeping its historical architecture intact. The three-story building originally consisted of a 4,000 SF foundation with one of the levels below grade. An addition was constructed in the 1980s bringing the square footage up to the 19,352 SF it is today.

“The buyer completed an in-depth due diligence process to confirm the highest and best use for the property. Several options were considered including housing and hotel options, upgraded executive offices, and retail uses. As the buyer is originally from Oregon, they wish to improve the building by enhancing its historic features while providing a high-class asset to the downtown core of Bend,” Fratzke stated. “Our community should be excited to see the upgrades and changes beginning in 2021.”

The Old Bend Post Office was constructed by the Public Buildings Program to reduce unemployment and to stimulate the economy. Its architectural style reflects a modern and classical style with its ornamental elements on the east side of the building. The reinforced concrete construction was considered unusual for the Bend area at the time and therefore deemed luxurious by the locals. The building is listed on the National Register of Historic Places.

The building has stood the test of time through the depression era and the recent COVID pandemic. Today, it stands as a reminder of our past and the hope for future progress.

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2020_October

October 2020 Notable Commercial Transactions

by Lauren Evanson 17 November 2020in Transaction News

Compass Commercial Real Estate Services is pleased to announce notable commercial transactions closed by the firm in October 2020.

Principal broker Bruce Churchill of Compass Commercial Real Estate Services represented the buyer, LBLM Investments, LLC and Three Sisters Holdings, LLC, in the sale of a 15.3 acres parcel on Brinson Boulevard. Compass Commercial Real Estate Services brokers Pat Kesgard, CCIM and Kristie Schmitt represented the seller. The commercial property sold for $3,509,609.

Compass Commercial Real Estate Services brokers Pat Kesgard, CCIM and Kristie Schmitt represented the buyer in the acquisition of a 500 SF retail building located at 1990 S Highway 97 in Bend for $1,650,00.

Brokers Pat Kesgard, CCIM and Kristie Schmitt of Compass Commercial Real Estate Services represented the seller, Lowcal Industries, LLC, in the sale of 16161 Burgess Road in La Pine. The 25,751 SF group living facility on 9.97 acres sold for $1,615,000.

Compass Commercial Real Estate Services broker Dan Kemp, CCIM and Compass Commercial Asset & Property Management broker Luke Ross represented the landlord, Sessler Properties, LLC, in the lease of a 12,950 SF industrial space located at 545 SE Bridgeford Boulevard in Bend. Compass Commercial Real Estate Services broker Graham Dent represented the tenant, PG Long Flooring, LLC, in the deal.

Brokers Peter May, CCIM and Dan Kemp, CCIM of Compass Commercial Real Estate Services represented the tenant, SmartyPits, in the lease of a 6,278 SF industrial suite located at 693 SE Glenwood Drive in Bend. Brokers Ron Ross, CCIM and Terry O’Neil, CCIM of Compass Commercial Real Estate Services and Compass Commercial Asset & Property Management broker Luke Ross represented the landlord, Rock Ridge Investments, LLC.

Broker Robert Raimondi, CCIM of Compass Commercial Real Estate Services represented the seller, Aero Facilities, LLC, in the sale of 63205 Gibson Air Road in Bend. The 3,600 SF hangar at the Bend Airport sold for $325,000.

Compass Commercial Real Estate Services brokers Terry O’Neil, CCIM and Bruce Churchill represented with landlord, Jerry Ivy Separate Property Revocable Trust, in the lease of a 4,439 SF industrial suite located at 2050 SW Deerhound Avenue in Redmond.

Compass Commercial Real Estate Services broker Ron Ross, CCIM and Compass Commercial Asset & Property Management broker Caroline McDonald, RPA® represented the landlord, JDAS Properties, LLC, in the lease of a 1,550 SF office suite located at 990 NW Brooks Street in Bend.

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Compass Points Q3 2020

Compass Points Q3 2020 Market Report

by Lauren Evanson 21 October 2020in Compass Points Market Report

Compass Points Q2 2020Growth and New Construction in Central Oregon:

The 2020 COVID-19 crisis caused businesses to pivot how they are operating. Those who were hit the hardest have been unable to keep their doors open. However, the Central Oregon commercial market is remaining strong with new construction popping up all over the area. What is causing this influx in demand for commercial properties? Find out in the Q3 Market Report.

Bend’s Office Market:

Compass Commercial surveyed 218 office buildings for the third quarter 2020 Bend report. The buildings in the sample totaled 2,731,655 square feet (SF). Negative net absorption of 20,557 SF was recorded during the quarter, and the vacancy rate rose to 7.50%, up from 5.48% in Q2 2020. There is now 204,963 SF available for lease, up from 145,601 SF in Q2. Get the full report for a complete breakdown of the Bend office market.

Bend’s Retail Market:

Compass Commercial surveyed 260 retail buildings totaling nearly 4,523,652 square feet (SF) for the third quarter of 2020. The citywide vacancy rate rose slightly, from 3.09% at the end of Q2 2020 to 3.38% at the end of Q3. There is currently 152,798 SF of retail space available citywide, up from 139,843 SF in Q2. Get the full report for a complete breakdown of the Bend retail market.

Bend and Redmond Industrial Markets:

Compass Commercial surveyed 320 industrial buildings for the third quarter 2020 report, totaling 4,612,306 square feet (SF). The industrial market gained a healthy 53,008 SF of net positive absorption in Q3, and the vacancy rate dropped from 3.80% in Q2 to 3.47% in Q3 2020. Four new buildings were added to the survey in Q3 and there is now 159,856 SF of industrial space available for lease in Bend, compared to 170,716 SF in Q2.

The Redmond Industrial market experienced 23,063 square feet (SF) of negative net absorption in the third quarter of 2020 with two new leases and five new vacancies noted. The vacancy rate rose to 3.50%, up from 2.10% in Q2. Out of Redmond’s industrial sector of 1,654,385 SF total leasable space, there is now 58,447 SF available for lease. There are 87 buildings in the Redmond industrial market that were surveyed.

To view the complete report, sign up to receive our quarterly publication at https://www.compasscommercial.com/POINTS or call (541) 383-2444.

Compass Points is a quarterly publication of Compass Commercial Real Estate Services offering comprehensive surveys of the Central Oregon commercial real estate market. The report provides a detailed look at quarterly vacancy and absorption data in office, retail and industrial product types throughout Bend’s primary submarkets, as well as the Redmond industrial market. Absorption data contained in the report pulls from samples of buildings over 3,000 sq. ft.

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2020_September

September 2020 Notable Commercial Transactions

by Lauren Evanson 15 October 2020in Transaction News

Compass Commercial Real Estate Services is pleased to announce notable commercial transactions closed by the firm in September 2020.

Compass Commercial Real Estate Services broker Howard Friedman, CCIM represented the seller, Cyber Drive, LLC, in the sale of 325 SW Cyber Drive in Bend. The 6609 SF office building on 0.72 acre sold for $2,225,000.

Broker and partner Graham Dent of Compass Commercial Real Estate Services represented the buyer, Providence Tents, LLC, in the acquisition of 1036 SE Paiute Way in Bend. The 12,790 SF Industrial building on 0.7 acre was purchased for $1,800,000.

Compass Commercial Real Estate Services brokers Adam Bledsoe and Bruce Churchill represented the landlord, 320 Bond, LLC, in the lease of a 4,500 SF office space located at 320 SW Upper Terrace Drive in Bend.

Brokers Pat Kesgard, CCIM and Kristie Schmitt of Compass Commercial Real Estate Services represented the buyer, Frank Storch and/or Assigns, in the acquisition of a 5,546 SF retail property on 0.32 acre located at 200 NE Greenwood Avenue in Bend. Broker Robert Raimondi, CCIM of Compass Commercial Real Estate Services and broker Luke Ross of Compass Commercial Asset & Property Management represented the seller, Don DeZarn.

Terry O’Neil, CCIM and Bruce Churchill, Principal broker of Compass Commercial Real Estate Services represented the landlord, Jerry Ivy Separate Property Revocable Trust, in the lease of a 4,440 SF industrial suite located at 2050 SE Deerhound Avenue in Redmond.

Compass Commercial Real Estate Services brokers Peter May, CCIM and Russell Huntamer, CCIM represented the landlord, G Group, in the lease of a 1,434 SF retail suite in 210 SW Century Drive in Bend, otherwise known as Westside Yard. Broker Ron Ross, CCIM of Compass Commercial Real Estate Services represented the tenant, Academy West Breathing Performance.

Broker Bruce Churchill of Compass Commercial Real Estate Services represented the tenant, State Farm Insurance, in the lease of a 769 SF retail suite located at 1052 NW Newport Avenue in Bend. Compass Commercial Real Estate Services brokers Graham Dent, Pat Kesgard, CCIM and Kristie Schmitt represented the landlord, Acadia Newport Partners, LLC.

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2020_August

August 2020 Notable Commercial Transactions

by Lauren Evanson 16 September 2020in Transaction News

Compass Commercial Real Estate Services is pleased to announce notable commercial transactions closed by the firm in August 2020.

Broker Terry O’Neil, CCIM of Compass Commercial Real Estate Services represented the buyer, Big B, LLC, in the acquisition of 350 NE Addison Avenue in Bend. The 15,000 SF industrial building on 1.71 acres was purchased for $2,850,000.

Compass Commercial Real Estate Services brokers Ron Ross, CCIM and Terry O’Neil, CCIM represented both the seller, Spring Family Investments, and the buyer, Paiute Building, LLC, in the sale of 1052 SE Paiute Way in Bend. The 10,560 SF industrial building on 0.58 acres sold for $1,575,000.

Brokers Ron Ross, CCIM, Dan Kemp, CCIM, Pat Kesgard, CCIM and Kristie Schmitt of Compass Commercial Real Estate Services represented the buyer, Deschutes Public Library, in the purchase of 12.75 acres of commercial land located at 63405 NE Highway 20 in Bend for $1,350,000. The Library intends to build a new district-wide flagship library facility on the site.

Compass Commercial Real Estate Services broker Robert Raimondi, CCIM and broker Luke Ross of Compass Commercial Asset & Property Management represented the landlord, Sherman Road Property, LLC, in the lease of a 19,029 SF industrial suite located at 63028 Sherman Road in Bend.

Broker Joel Thomas, CCIM of Compass Commercial Real Estate Services represented the tenant, Seasonal Marketing Inc., in the lease of a 13,206 SF industrial suite located at 1090 NE 11th Street in Redmond.

Compass Commercial Real Estate Services broker Howard Friedman, CCIM represented the seller, Robert Willis, in the disposition of a 1,050 SF restaurant located at 411 E Hood Avenue in Sisters. The property was sold for $350,000.

Brokers Ron Ross, CCIM and Dan Kemp, CCIM of Compass Commercial Real Estate Services represented the seller, City of Bend, in the sale of 24 NW Kansas Avenue in Bend. Broker Howard Friedman, CCIM of Compass Commercial Real Estate Services represented the buyer, Central Oregon Environmental Center. The 0.13-acre parcel was purchased for $339,720.

Compass Commercial Real Estate Services broker Robert Raimondi, CCIM represented the seller, Aero Facilities, LLC, in the disposition of a 3,600 SF hangar on 24 acres located at 63205 Gibson Air Road in Bend.

Brokers Ron Ross, CCIM and Terry O’Neil, CCIM of Compass Commercial Real Estate Services represented the landlord, Paiute Building, LLC, in the lease of a 7,927 SF industrial suite located at 1052 SE Paiute Way in Bend.

Compass Commercial Real Estate Services broker Russell Huntamer, CCIM represented both the landlord, CVSC, LLC, and the tenant, Board & Brush, in the lease of a 2,040 SF retail space located at 63455 N Highway 97 in Bend.

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63025 OB Riley Rd

July 2020 Notable Commercial Transactions

by Lauren Evanson 20 August 2020in Transaction News

Compass Commercial Real Estate Services is pleased to announce notable commercial transactions closed by the firm during the month of July 2020.

Brokers Dan Kemp, CCIM, Pat Kesgard, CCIM and Kristie Schmitt of Compass Commercial Real Estate Services represented the seller, 27 Elm Partnership, in the sale of the 58-unit townhome project located on the corner of NW Elm Avenue and 27th Street in Redmond. The 71,274 SF multifamily unit on 2.76 acres sold for $13,200,000.

Compass Commercial Real Estate Services brokers Pat Kesgard, CCIM and Kristie Schmitt represented the seller, Sawyer Commercial Park, in the disposition of 63025 OB Riley Road in Bend. Broker Graham Dent, Partner of Compass Commercial Real Estate Services represented the buyer, Sawyer Park, LLC. The 27,000 SF industrial building on 1.8 acres was purchased for $2,950,000.

Broker Howard Friedman, CCIM of Compass Commercial Real Estate Services represented the buyer, Central Oregon Regional Housing Authority, in the acquisition of 2790 NE Conners Avenue in Bend. Compass Commercial Real Estate Services broker Dan Kemp, CCIM represented the seller, Hallmark Inns & Resorts, Inc. The 2.62 acre parcel sold for $1,950,000.

Brokers Joel Thomas, CCIM and Adam Bledsoe of Compass Commercial Real Estate Services represented both the seller, Portland State University Foundation, and the buyer, Cornerstone Realty Holdings, LLC, in the sale of 701 NW Spruce Avenue in Redmond. The 10.05-acre parcel sold for $1,465,000.

Compass Commercial Real Estate Services brokers Russell Huntamer, CCIM and Terry O’Neil, CCIM represented both the tenant, Lucy’s Taco Shop, and the landlord, Robert & Joy Rudy Revocable Trust, in the lease of the 2,546 SF restaurant located at 916 NE 3rd Street in Bend.

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Compass Points Q2 2020

Compass Points Q2 2020 Market Report

by Compass Commercialon 22 July 2020in Compass Points Market Report

Compass Points Q2 2020The Effects of COVID-19 on Commercial Real Estate:

It comes as no surprise COVID-19 has made an impact on the world. The last five months have changed dramatically for tenants and landlords alike. Brokers Howard Friedman, CCIM, Ron Ross, CCIM and Graham Dent, Partner take a look at how each market has been affected and what has stayed the same. Plus, get a sneak peek into the multifamily market.

Bend’s Office Market:

Compass Commercial surveyed 212 office buildings for the second quarter 2020 Bend report. The buildings in the sample totaled 2,658,027 square feet (SF). A negative net absorption of 29,175 SF was recorded during the quarter with a vacancy rate of 5.48%, up from 4.11% in Q1 2020. There is now 145,601 SF available for lease, up from 108,367 SF in Q1. Get the full report for a complete breakdown of the Bend office market.

Bend’s Retail Market:

Compass Commercial surveyed 259 retail buildings totaling nearly 4,519,289 square feet (SF) for the second quarter of 2020. The citywide vacancy rate rose slightly, from 3.01% at the end of Q1 2020 to 3.09% at the end of Q2. There is currently 139,843 SF of retail space available citywide, up from 135,866 SF in Q1. Get the full report for a complete breakdown of the Bend retail market.

Bend and Redmond Industrial Markets:

Compass Commercial surveyed 316 industrial buildings for the second quarter 2020 report, totaling 4,493,791 square feet (SF). The industrial market lost 12,277 SF of net negative absorption in Q2, and the vacancy rate rose from 3.27% in Q1 to 3.80% in Q2 2020. There is now 170,716 SF of industrial space available for lease in Bend, compared to 146,439 SF in Q1.

The Redmond Industrial market gained 10,225 square feet (SF) of positive net absorption in the second quarter of 2020 for a fourth straight gain in quarterly occupancy, with three new leases noted. The vacancy rate rose slightly however, from 1.7% to 2.1%, due to an additional 17,206 SF building on NE 11th Street being added to the survey. Out of Redmond’s industrial sector of 1,654,385 SF total leasable space, there is now just 35,384 SF available for lease.

To view the complete report, sign up to receive our quarterly publication at https://www.compasscommercial.com/POINTS or call (541) 383-2444.

Compass Points is a quarterly publication of Compass Commercial Real Estate Services offering comprehensive surveys of the Central Oregon commercial real estate market. The report provides a detailed look at quarterly vacancy and absorption data in office, retail and industrial product types throughout Bend’s primary submarkets, as well as the Redmond industrial market. Absorption data contained in the report pulls from samples of buildings over 3,000 sq. ft.

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