Colbert Coldwell founded Coldwell Banker Commercial in 1906 in order to fulfill the commercial real estate needs of his family of clients that included investors, owners and tenants. Coldwell Banker Commercial has affiliate companies in over 40 countries, including one right here in the heart of Bend, Oregon serving the Central Oregon area since 1969.
Rooted in this entrepreneurial spirit and backed by the global Realogy network, the Coldwell Banker Commercial (CBC) organization is still finding better ways to fulfill the commercial real estate needs of investors, owners and tenants today.
CBC is comprised of over 300 independently owned and operated companies (of which 159 offices are stand-alone Coldwell Banker Commercial offices) and more than 3,000 professionals worldwide.
With affiliate companies in over 40 countries, CBC has one of the largest geographic footprints in today’s commercial real estate marketplace. It is ranked in top five commercial real estate business franchise groups in the U.S.
Leaders in their local communities, CBC affiliates have the knowledge and connections necessary to ensure all client
needs are met. Whether you are looking for a commercial space for sale or a commercial space for lease, our experts will help find you the perfect property.
The Coldwell Banker Commercial Morris Real Estate office in Bend deals with both finalizing a commercial space for lease and commercial spaces for sale. Whether it is acquiring, developing, leasing or selling a commercial property, Coldwell Banker Commercial has experts who can help.
Coldwell Banker Commercial services include acquisition and disposition, capital services and corporate services, distressed assets, landlord representation, market research, tenant representation, property and facility management, startups and small businesses.
Cascade Business News asked three Coldwell Banker Morris Real Estate commercial realtors some views on the local market:
Where do you see the most growth for Bend in commercial real estate?
Corey Charon, PE/Broker The sky cranes and new professional developments will be visible on the westside of Bend. Along with larger vacant parcels and the new college campus, we foresee this specific area as the hub for new job creation. This new construction will be supported by stronger lease rates, which has clearly been the primary challenge regarding new construction.
Paula Van Vleck/Broker All segments of the commercial market are growing. We see the development of another Class A building in the market with the Crane Shed location on Industrial Way. We see a new hotel about to open on Industrial Way and another new one planned on Bond and Wilson in the Old Mill. Industrial spaces have filled up, and rents are now in the $.75 – $.80/SF range.
And retail is booming with not many spaces available. With the termination of the moratorium on retail land on Bend’s north side, we will see a number of new stores open in that corridor. RobalPlaza is under construction at Robal and Highway 97, the Fred Meyer store just got approved at Cooley and Highway 20 and the RV property at Hunnell and Robal will soon be developed.
Al Eastwood/Broker Growth in the commercial sector will come as a result of overall population and job growth. Bend and Central Oregon has led the State in these categories and commercial expansion, especially in the retail and industrial segment, will be required to accommodate this larger market.
What inspired you to become a commercial real estate broker?
Charon I have been a professional civil engineer for the past 17 years. In this role developers and commercial brokers alike would bring properties to me asking about the level of restrictions or development hurdles with large scale projects prior to acquiring the property. I found myself intrigued with the relationship between the developer and commercial agent and felt I could be even more valued as a broker.
Van Vleck I began commercial brokerage in Dallas, Texas. At that time my husband was a commercial broker and he wanted my help in that industry. After going through a divorce and moving to Bend, I had two daughters to raise and it was helpful to be busy at my work during the week as opposed to the weekends, when most residential brokers have to work. I have always loved the fact that with commercial brokerage, I can decide what tenant a location needs and go after that tenant assertively. I don’t have to “wait” for someone to call off a sign.
Eastwood My initial exposure to commercial real estate came in college business classes. I later worked for a Fortune 100 company and managed company-owned and -leased properties as part of my sales and marketing responsibility. We wanted to make Bend our permanent home and I was attracted to the independent and entrepreneurial work environment that commercial brokerage offered and I made the change in 1997.
Do you have a business philosophy you live by?
Charon Simple approach, treat other the way you expect to be treated. Be accountable, mentor a younger professional if given the opportunity. Earn respect from your peers, success will come from that.
Van Vleck In this business one is required to practice a lot of patience because the deals take quite a while to take them through the process, which oftentimes involves city permitting, architectural plans, construction bids, the actual construction of a site or of tenant improvements. I practice persistence because when I take an idea to another person/company, they don’t always “see it” with the first presentation. If I believe it is a good idea, then I have to persistently (in a nice way) go back to them and present the idea again and again. After about the seventh “no” then I don’t bother them again. But persistence has always helped me work through transactions. Creativity is required in finding solutions to obstacles that try to prevent the deal from happening. Flexibility has also been helpful in putting deals together. Sometimes you have to back off from the way “I think the deal should come together.”
Deals have a life of their own, and if you step aside and just guide them, rather than pushing them in a certain direction, they can get done in a better way. So my business philosophy has been to use patience, persistence, creativity and flexibility. I strive to treat people with kindness, consideration and sensitivity to their needs.
Eastwood My business and personal philosophy are the same: “Work Hard, Be Honest and Spend Less Than You Earn.”
What was your most exciting and/or commercial RE project you work on?
Charon Any new land development project is exciting. Knowing what is going to happen prior to news releases and town conversation can feel rewarding. Obtaining land entitlements is a valuable skill set developers rely upon. I have been directly associated with thousands of platted lots in Central Oregon, it feels like I help shape the place I was raised.
Van Vleck The former Design Center in Redmond has been exciting to work on. This building sat vacant from 2008 until 2016. My client purchased it in 2015 and we have had to work with the City of Redmond and ODOT just to lay the groundwork to be able to bring tenants into the project. Tenants are now signing leases to locate in the building, and they are truly excited to be bringing their businesses to such a beautiful building. It has been very satisfying to help make this building leasable and functional again.
Eastwood There have been many. A few that come to mind:
Working with the developers of the Sandalwood home subdivision in the acquisition, planning, construction and marketing of the project beginning In 1998 and continuing through completion.
I have represented both buyers and sellers of businesses in Bend and Central Oregon. These transactions always represent significant change for the principals. It is rewarding to see those involved achieve their personal and business goals.
What are some of your current projects?
Charon We have a design build project on Hwy 20, just east of Pilot Butte that is currently in the planning stages. I am also working on a high density re-development on the westside near the college that wants to be a mixed use, live-work campus.
Van Vleck I continue to work with fast food restaurants to help them find new locations in Bend. I have a number of development sites that need good build to suit tenants and I’m working hard to find the “right” tenants. I am showing a California developer some Bend sites for their new projects. For the last six months I have worked with a client of mine in his process of purchasing a local office building, and that process has been both educational and interesting.
Over the years I have brought a number of new businesses/tenants into Bend and helped them find just the right location. That has been exciting, fun, hard work and satisfying to bring new businesses into our community. Some of them have been: Oil Can Henry’s, Del Taco, Dairy Queen, Sonic, Grocery Outlet, Hancock Fabrics (closed now), El Caporal, Ross Dress For Less, New York City Sub, Hollywood Video (closed now), Outback Steakhouse (closed now), Dollar Tree (southside store), Walgreen’s in Redmond, Mattress Factory (just now opening a new location).
Eastwood We are working with a group of owners who own land and property that is included in the expansion of the Bend Urban Growth Boundary. This is an 18 month to three year project. The effort will eventually result in the residential, commercial and industrial land space that is needed to meet the growth projections we have for Central Oregon.
Coldwell Banker Commercial Morris Real Estate
486 SW Bluff Drive, Bend, OR 97702
541-382-4123
www.bendproperty.com
