(Photo courtesy of Compass Commercial)
Sale Final on Deschutes Business Center
Compass Commercial Real Estate Services is pleased to announce the sale of the Deschutes Business Center located at 20332-20370 Empire Avenue in Bend. The property has easy access to Highways 97 and 20. Built in 1981, this concrete block construction consists of 39 suites in five buildings, making up the 54,508 square feet of mixed-use suites on 5.56 acres. The building was 95 percent leased when sold. The value of the sale transaction was $6,112,000.
The seller was represented by Compass Commercial Real Estate Services brokers Robert Raimondi, CCIM and Russell Huntamer, CCIM and John Keba CPM®, ARM® of Compass Commercial Asset & Property Management. The buyer was represented by brokers Gardner Williams, Peter May, CCIM and Dan Kemp of Compass Commercial Real Estate Services. Compass Commercial Asset & Property Management regional property manager Paul Weaver assisted in representation on both sides of the sale.
According to the seller’s broker Robert Raimondi, CCIM “The property is zoned Mixed Employment and is situated in an area of Bend that is experiencing substantial new capital investment.”
Compass Commercial Asset & Property Management will retain management of the property.
If you have questions about this article, please contact the appropriate broker at Compass Commercial Real Estate Services at 541-383-2444 or Compass Commercial Asset & Property Management at 541-330-0025.