(Photo courtesy of The Bulletin)
The Bulletin newspaper property on Bend’s Westside has been put on the market with a price tag of $20 million.
The approximate 86,445 square foot facility off SW Chandler Avenue, owned by parent company Western Communications, Inc., was constructed in 2000 as a “build-to-suit” for the publication group and consists of office and state-of-the-art production and printing facility on 9.78 acres, near the newly constructed Oregon State University—Cascades campus.
Listing broker Peter Lowes, president of Lowes Commercial Properties, said the seller/tenant would execute a 20-year lease-back of the building to an investor at the closing of a sale, and that the property includes excess land of approximately 2.5 acres under a commercial/mixed-use zone designation which could be developed to accommodate a variety of uses.
The brokerage company’s website indicates the building and associated real estate is valued at $17 million, or approximately $197 per square foot, while the additional land has been pegged at $3 million, or just over $28 per square foot and could be a candidate for “student housing, upscale condos or apartment units.”
The Bend Bulletin published its first issue on March 27, 1903, and is the flagship publication of Western Communications, founded by Robert W. Chandler, which is based in Bend and owns six newspapers in Oregon and California, related digital publications, the Central Oregon Nickel Ads and a commercial printing operation.
For more information, contact Lowes Commercial Properties, tel. (541) 312-2113.