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PROPERTY BROCHUREPROPERTY BROCHUREFull Offering Memorandum available with signed NDA
CLAUSEN CENTER63830 Clausen Road, Bend, OR
$3,701,411$140.42/SF
26,360 SF | 1.97 AC 3,840 SF Currently Available
INVESTMENT OPPORTUNITYIN A STRATEGIC LOCATION
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DAN KEMPPartner, BrokerDirect 541.848.4076Cell [email protected]
ADAM BLEDSOEBrokerDirect 541.848.4054Cell [email protected]
EXCLUSIVELY LISTED BY:
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EXECUTIVE SUMMARY
PROPERTY DESCRIPTION
MARKET OVERVIEW
CONTENTSCONTENTS
FULL OM WITH FINANCIALS AVAILABLE WITH SIGNED NDACLICK HERE TO VIEW NDA
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EXECUTIVE SUMMARYEXECUTIVE SUMMARY
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Price $3,701,411
Price Per Square Foot $140.42
Address 63830 Clausen Road, Bend, OR
Tax Lots 171209A002400
Parcel Size 1.97 AC
Zoning CG – Commercial General
Building Area 26,360 SF
Vacant Space 3,840 SF
Year Built 1995-2007
Number Of Buildings 3
Number Of Stories 1
Parking Spaces 54
Parking Ratio 2:1,000
Number of Tenants 9
Current Vacancy 14.6%
PROP
ERTY
SUM
MARY
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THE OFFERINGThis is an excellent opportunity for an owner/user to acquire a premium mixed-use building in the path of progress in one of the most dynamic lifestyle markets in the country, Bend, OR. The Clausen Center is located on the north end of Bend just inside city limits. The property consists of three brick buildings, one of which prominently fronts Highway 97 with traffic counts of almost 54,000 cars per day giving this property prime visibility.
The property features ten rentable suites, nine of which are currently leased with income in place and have a combined 22,520 SF. The remaining vacant suite has a footprint of 3,840 SF and could be occupied by an owner user immediately. Within 17 months or less, five additional leases expire totaling 14,372 SF which could be absorbed by an owner user for a total of 21,880 SF.
The majority of the current tenants have had a long-term tenancy in the building and would likely renew giving an owner-user buyer the ability to absorb the space they need and keep the income in place on space they don’t.
With a Commercial General (CG) zoning, the property is well suited for a wide variety of different uses including retail sales and service, restaurant/food and beverage services, office, medical care, entertainment and recreation, day care, veterinary clinic, and industrial service.
The center enjoys strong demographics with a population of 95,654 within five miles with an average household income of $84,937 and a 3% unemployment rate. There is a total population of 228,959 in the local trade area with an average household income of $78,558.
Current access to the property is from Clausen Drive, however during the last UGB expansion, there was a great deal of land brought into city limits from the North Triangle. This is the catalyst to ODOT’s (Oregon Department of Transportation’s) implementation of their North Triangle HWY 97 reroute (see pages 12 and 13). A new traffic light is planned directly south of the building which would give this property incredible exposure and access.
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POSITIONED TO TAKE ADVANTAGE OF HWY 97
RE-ROUTE
STRONG DEMOGRAPHICS
AMPLE PARKING
ALL-TIME LOW MARKET VACANCY
3 MIXED-USE BUILDINGS
BELOW MARKET RENTS PROVIDE FOR STRONG UPSIDE
INCOME POTENTIAL
ZONED CG FOR A WIDE VARIETY OF USES
POTENTIAL TO OCCUPY 21,880 SF BY MARCH 2021
INVESTMENT HIGHLIGHTS
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PROPERTY OVERVIEWPROPERTY OVERVIEW
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BURGEONING AREA The Milken Institute ranked the Bend Metro as the Best Performing Small City in the nation in 2018 for the third consecutive year. The report cites unmatched five-year job and wage growth, strong high-tech performance and substantial investment in its knowledge economy with the Oregon State University-Cascades Innovation Co-Lab, an incubator and educational resource for entrepreneurs. The Bend Metro boasts a 3.6% unemployment rate and projected job growth of 55.7%, compared to a national average of just 33.5%, over the next ten years.
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Address 63830 Clausen Road, Bend OR 97703
County Deschutes County
Parcel Number 171209A002400
Zoning CG – Commercial General
Building Area 26,360 SF
Year Built 1995-2007
Number Of Buildings 3
Floors 1
Parking 54
Foundation Slab
Shell Brick/block
Doors Glass pedestrian entrance doors
Loading Docks None
Roof Metal
Windows Double pane encased with metal frames
Site Improvements 54 parking spaces and landscaped with native plants watered by sprinklers
Curbs & Paving Concrete curbs and sidewalks, asphalt paved parking
Walls Finished drywall
Lighting Fluorescent and incandescent fixtures
Floors Laminate, carpet, slab
Heating Natural gas forced air heating
Cooling Forced air A/C
Fire/Life Safety Fire sprinklers
PROP
ERTY
SUM
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EXTE
RIOR
MECH
ANICA
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PROPERTY DETAILS
EXCELLENT HIGHWAY VISIBILITY AND TRAFFIC COUNTS
LOCATED AT THE NORTH END OF HIGHWAY 97
GREAT ACCESS WITH FUTURE SIGNALIZED
INTERSECTION
JUST NORTH OF THE CASCADE VILLAGE SHOPPING CENTER
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CLAUSEN DRIVE
THE
DALL
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CALI
FORN
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IGHW
AY (U
.S. 9
7)
63830 SITE PLAN
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100B
100A
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Leased
AvailableCONDITION OF SALEThe Clausen Center is being offered for sale on an “as-is, where-is” basis.
Detailed due diligence information can be requested from the listing team. In order to view confidential information, all parties will be required to execute a Confidentiality Agreement.
All property tours must be scheduled in advance through the Compass Commercial listing team.
OFFERING TERMSPlease submit offers via email to the listing team.
Interested parties must submit a written Letter of Intent (“LOI”) or a Purchase & Sales Agreement (“PSA”) outlining the terms and conditions under which they propose to purchase the Property. Such terms must include the following:
• Purchase price• Company background and financial capability• Source of capital (Equity/Debt)• Amount and form of earnest money deposit(s)• Required contingency periods (inspection, financing, etc.),
including any extension(s)• Closing timeline
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OWNER USER OPPORTUNITYAn owner user looking to acquire the property for
their own use will be interested in when and what they could occupy. All suites in the east building,
the building that fronts Highway 97 with the best exposure, would be available in the next 17 months. This would give a buyer ample time to design and
permit any needed interior upgrades. Due to the mixed use nature of the building, some suites have a retail flavor while others suites have more of an
industrial flare.
CLAUSEN DRIVE
THE
DALL
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CALI
FORN
IA H
IGHW
AY (U
.S. 9
7)
63830 SITE PLAN
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204
100B
100A
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Leased
Available
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FINANCIAL INFORMATIONFINANCIAL INFORMATION
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# Tenant Use SF Deposit Start Date End Date Renewals Esclator Lease Rate Lease Type Rent/Mo. Rent/Yr. NNN/Mo. NNN/Yr. Leakage/Yr.
100A New System Laundry Industrial 2,036 $1,378 11/6/2019 10/31/2024 None 3% yr $0.60 NNN $1,224 $14,684 $387 $4,642100B Available Office/Retail 3,840 $1.15 NNN $4,416 $52,992 $730 $8,755101 Aura Waterfalls Industrial 3,088 $3,600 4/1/2018 3/31/2021 None 3% yr $0.62 NNN $1,915 $22,975 $587 $7,041102 Bend Photo & Video Group, LLC Retail 3,340 $2,200 2/1/2018 2/28/2021 None 3% yr $0.66 MG $2,200 $26,400 $635 $7,615103 Dovetails Handrcafted Furniture Storage 2,184 $763 10/1/2016 1/31/2021 None 3% yr $0.64 MG $1,400 $16,800 $415 $4,980104 Elite Forklift Services Indusdrial 3,520 $2,100 2/1/2018 1/31/2021 None 3% yr $0.57 NNN $1,994 $23,929 $669 $8,026200 Tune, Inc. Office 2,240 $1,000 4/1/2020 3/31/2023 None 3% yr $0.85 NNN $1,904 $22,848 $426 $5,107201 Twist II Cocktail Catering Office 2,240 $1,389 4/1/2019 3/31/2022 None 3% yr $0.60 NNN $1,344 $16,128 $426 $5,107202 Get a Move on Dance Studio Retail/Studio 2,240 $1,389 11/1/2016 10/31/2021 1 X 5 yrs 3% yr $0.58 NNN $1,308 $15,698 $426 $5,107204 Pointe Hope Industrial 1,632 $1,386 11/5/2019 10/31/2022 None 3% yr $0.80 NNN $1,306 $15,667 $310 $3,721
26,360 $15,205 $19,010 $228,120 $5,008 $47,506 $12,595
# Tenant Use SF Deposit Start Date End Date Renewals Esclator Lease Rate Lease Type Rent/Mo. Rent/Yr. NNN/Mo. NNN/Yr. Leakage/Yr.
100A New System Laundry Industrial 2,036 $1,378 11/6/2019 10/31/2024 None 3% yr $0.62 NNN $1,262 $15,148 $387 $4,642100B Available Office/Retail 3,840 $1.15 NNN $4,416 $52,992 $730 $8,755101 Aura Waterfalls Industrial 3,088 $3,600.00 4/1/2018 3/31/2021 None Renew/New $0.75 NNN $2,316 $27,792 $587 $7,041102 Bend Photo & Video Group, LLC Retail 3,340 $2,200.00 2/1/2018 2/28/2021 None Renew/New $0.75 NNN $2,505 $30,060 $635 $7,615103 Dovetails Handrcafted Furniture Storage 2,184 $763.00 10/1/2016 1/31/2021 None Renew/New $0.75 NNN $1,638 $19,656 $415 $4,980104 Elite Forklift Services Indusdrial 3,520 $2,100.00 2/1/2018 1/31/2021 None Renew/New $0.75 NNN $2,640 $31,680 $669 $8,026200 Tune, Inc. Office 2,240 $1,000.00 4/1/2015 3/31/2020 None Renew/New $0.85 NNN $1,904 $22,848 $426 $5,107201 Twist II Cocktail Catering Office 2,240 $1,388.80 4/1/2019 3/31/2022 None Escalated $0.62 NNN $1,389 $16,666 $426 $5,107202 Get a Move on Dance Studio Retail/Studio 2,240 $1,388.80 11/1/2016 10/31/2021 1 X 5 yrs Escalated $0.62 NNN $1,389 $16,666 $426 $5,107204 Pointe Hope Industrial 1,632 $1,386 11/5/2019 10/31/2022 None 3% yr $0.82 NNN $1,338 $16,059 $310 $3,721
26,360 $15,205 $20,797 $249,566 $5,008 $60,101
2021 PRO FORMA RENT ROLL
CURRENT RENT ROLL
# Tenant Use SF Deposit Start Date End Date Renewals Esclator Lease Rate Lease Type Rent/Mo. Rent/Yr. NNN/Mo. NNN/Yr. Leakage/Yr.
100A New System Laundry Industrial 2,036 $1,378 11/6/2019 10/31/2024 None 3% yr $0.60 NNN $1,224 $14,684 $387 $4,642100B Available Office/Retail 3,840 $1.15 NNN $4,416 $52,992 $730 $8,755101 Aura Waterfalls Industrial 3,088 $3,600 4/1/2018 3/31/2021 None 3% yr $0.62 NNN $1,915 $22,975 $587 $7,041102 Bend Photo & Video Group, LLC Retail 3,340 $2,200 2/1/2018 2/28/2021 None 3% yr $0.66 MG $2,200 $26,400 $635 $7,615103 Dovetails Handrcafted Furniture Storage 2,184 $763 10/1/2016 1/31/2021 None 3% yr $0.64 MG $1,400 $16,800 $415 $4,980104 Elite Forklift Services Indusdrial 3,520 $2,100 2/1/2018 1/31/2021 None 3% yr $0.57 NNN $1,994 $23,929 $669 $8,026200 Tune, Inc. Office 2,240 $1,000 4/1/2020 3/31/2023 None 3% yr $0.85 NNN $1,904 $22,848 $426 $5,107201 Twist II Cocktail Catering Office 2,240 $1,389 4/1/2019 3/31/2022 None 3% yr $0.60 NNN $1,344 $16,128 $426 $5,107202 Get a Move on Dance Studio Retail/Studio 2,240 $1,389 11/1/2016 10/31/2021 1 X 5 yrs 3% yr $0.58 NNN $1,308 $15,698 $426 $5,107204 Pointe Hope Industrial 1,632 $1,386 11/5/2019 10/31/2022 None 3% yr $0.80 NNN $1,306 $15,667 $310 $3,721
26,360 $15,205 $19,010 $228,120 $5,008 $47,506 $12,595
# Tenant Use SF Deposit Start Date End Date Renewals Esclator Lease Rate Lease Type Rent/Mo. Rent/Yr. NNN/Mo. NNN/Yr. Leakage/Yr.
100A New System Laundry Industrial 2,036 $1,378 11/6/2019 10/31/2024 None 3% yr $0.62 NNN $1,262 $15,148 $387 $4,642100B Available Office/Retail 3,840 $1.15 NNN $4,416 $52,992 $730 $8,755101 Aura Waterfalls Industrial 3,088 $3,600.00 4/1/2018 3/31/2021 None Renew/New $0.75 NNN $2,316 $27,792 $587 $7,041102 Bend Photo & Video Group, LLC Retail 3,340 $2,200.00 2/1/2018 2/28/2021 None Renew/New $0.75 NNN $2,505 $30,060 $635 $7,615103 Dovetails Handrcafted Furniture Storage 2,184 $763.00 10/1/2016 1/31/2021 None Renew/New $0.75 NNN $1,638 $19,656 $415 $4,980104 Elite Forklift Services Indusdrial 3,520 $2,100.00 2/1/2018 1/31/2021 None Renew/New $0.75 NNN $2,640 $31,680 $669 $8,026200 Tune, Inc. Office 2,240 $1,000.00 4/1/2015 3/31/2020 None Renew/New $0.85 NNN $1,904 $22,848 $426 $5,107201 Twist II Cocktail Catering Office 2,240 $1,388.80 4/1/2019 3/31/2022 None Escalated $0.62 NNN $1,389 $16,666 $426 $5,107202 Get a Move on Dance Studio Retail/Studio 2,240 $1,388.80 11/1/2016 10/31/2021 1 X 5 yrs Escalated $0.62 NNN $1,389 $16,666 $426 $5,107204 Pointe Hope Industrial 1,632 $1,386 11/5/2019 10/31/2022 None 3% yr $0.82 NNN $1,338 $16,059 $310 $3,721
26,360 $15,205 $20,797 $249,566 $5,008 $60,101
2021 PRO FORMA RENT ROLL
CURRENT RENT ROLL
# Tenant Use SF Deposit Start Date End Date Renewals Esclator Lease Rate Lease Type Rent/Mo. Rent/Yr. NNN/Mo. NNN/Yr. Leakage/Yr.
100A New System Laundry Industrial 2,036 $1,378 11/6/2019 10/31/2024 None 3% yr $0.60 NNN $1,224 $14,684 $387 $4,642100B Available Office/Retail 3,840 $1.15 NNN $4,416 $52,992 $730 $8,755101 Aura Waterfalls Industrial 3,088 $3,600 4/1/2018 3/31/2021 None 3% yr $0.62 NNN $1,915 $22,975 $587 $7,041102 Bend Photo & Video Group, LLC Retail 3,340 $2,200 2/1/2018 2/28/2021 None 3% yr $0.66 MG $2,200 $26,400 $635 $7,615103 Dovetails Handrcafted Furniture Storage 2,184 $763 10/1/2016 1/31/2021 None 3% yr $0.64 MG $1,400 $16,800 $415 $4,980104 Elite Forklift Services Indusdrial 3,520 $2,100 2/1/2018 1/31/2021 None 3% yr $0.57 NNN $1,994 $23,929 $669 $8,026200 Tune, Inc. Office 2,240 $1,000 4/1/2020 3/31/2023 None 3% yr $0.85 NNN $1,904 $22,848 $426 $5,107201 Twist II Cocktail Catering Office 2,240 $1,389 4/1/2019 3/31/2022 None 3% yr $0.60 NNN $1,344 $16,128 $426 $5,107202 Get a Move on Dance Studio Retail/Studio 2,240 $1,389 11/1/2016 10/31/2021 1 X 5 yrs 3% yr $0.58 NNN $1,308 $15,698 $426 $5,107204 Pointe Hope Industrial 1,632 $1,386 11/5/2019 10/31/2022 None 3% yr $0.80 NNN $1,306 $15,667 $310 $3,721
26,360 $15,205 $19,010 $228,120 $5,008 $47,506 $12,595
# Tenant Use SF Deposit Start Date End Date Renewals Esclator Lease Rate Lease Type Rent/Mo. Rent/Yr. NNN/Mo. NNN/Yr. Leakage/Yr.
100A New System Laundry Industrial 2,036 $1,378 11/6/2019 10/31/2024 None 3% yr $0.62 NNN $1,262 $15,148 $387 $4,642100B Available Office/Retail 3,840 $1.15 NNN $4,416 $52,992 $730 $8,755101 Aura Waterfalls Industrial 3,088 $3,600.00 4/1/2018 3/31/2021 None Renew/New $0.75 NNN $2,316 $27,792 $587 $7,041102 Bend Photo & Video Group, LLC Retail 3,340 $2,200.00 2/1/2018 2/28/2021 None Renew/New $0.75 NNN $2,505 $30,060 $635 $7,615103 Dovetails Handrcafted Furniture Storage 2,184 $763.00 10/1/2016 1/31/2021 None Renew/New $0.75 NNN $1,638 $19,656 $415 $4,980104 Elite Forklift Services Indusdrial 3,520 $2,100.00 2/1/2018 1/31/2021 None Renew/New $0.75 NNN $2,640 $31,680 $669 $8,026200 Tune, Inc. Office 2,240 $1,000.00 4/1/2015 3/31/2020 None Renew/New $0.85 NNN $1,904 $22,848 $426 $5,107201 Twist II Cocktail Catering Office 2,240 $1,388.80 4/1/2019 3/31/2022 None Escalated $0.62 NNN $1,389 $16,666 $426 $5,107202 Get a Move on Dance Studio Retail/Studio 2,240 $1,388.80 11/1/2016 10/31/2021 1 X 5 yrs Escalated $0.62 NNN $1,389 $16,666 $426 $5,107204 Pointe Hope Industrial 1,632 $1,386 11/5/2019 10/31/2022 None 3% yr $0.82 NNN $1,338 $16,059 $310 $3,721
26,360 $15,205 $20,797 $249,566 $5,008 $60,101
2021 PRO FORMA RENT ROLL
CURRENT RENT ROLL
CURRENT RENT ROLL
2021 PRO RENT ROLL
FULL DETAILS AVAILABLE WITH A SIGNED NDA VIEWNDA
FULL DETAILS AVAILABLE WITH A SIGNED NDA VIEWNDA
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2021 VALUATION (PRO FORMA)INCOMEGross Potential Income $249,566 - Vacancy ($12,478) 5%Effective Gross Income $237,088
EXPENSESProperty Taxes NNNInsurance NNNSnow Removal NNNParking Lot NNNRepairs & Maintenance NNNManagement NNNNNN Leakage NNNReserves $4,742 2%Total Expenses $4,742 2%
NET OPERATING INCOME $232,346
Cap RateValue
Pro Forma Value
$3,701,4116.28%
INCOMEGross Potential Income $228,120 - Vacancy ($11,406) 5%Effective Gross Income $216,714
EXPENSESProperty Taxes NNNInsurance NNNSnow Removal NNNParking Lot NNNRepairs & Maintenance NNNManagement NNNNNN Leakage $12,595Reserves $4,334 2%Total Expenses $16,929 8%
NET OPERATING INCOME $199,785
Cap RateValue
Current Value
5.40%$3,701,411
2020 VALUATION
FULL DETAILS AVAILABLE WITH A SIGNED NDA
VIEWNDA
FULL DETAILS AVAILABLE WITH A SIGNED NDA
VIEWNDA
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MARKET OVERVIEWMARKET OVERVIEW
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BEND, OREGON SUBMARKET
JOB GROWTH
19.9%Projected by 2022
WAGE GROWTH
25.2%Projected by 2022
UNEMPLOYMENT RATE
3.6%2019
DEVELOPMENTEconomically, Bend started as a logging town, but began a transition to a more varied, sustainable economy in the 1980’s when it became apparent that the lumber mills would no longer be vital. Economic Development for Central Oregon (EDCO) was born in the dark days of the 1980’s, when many downtown businesses were boarded up.
Unlike resort communities such as Aspen or Jackson Hole, Bend’s lifestyle and quality workforce is a draw for many successful companies in the aviation, manufacturing, renewable energy, high-tech, healthcare and recreation equipment sectors. Many of Bend’s companies are owner-operated and in the small to midsize range, typically with 10 to 50 employees. Companies like Breedlove Guitars, G5 Search Marketing, Deschutes Brewery, Hydro Flask and Bend Research provide solid employment and bring in vital traded-sector dollars to Bend’s economy.
A driving force for our economic performance is a collaborative and inclusive entrepreneurial community. This is supported via the number of new business registrations, which has outpaced far larger cities. Bend registered one new business for every 28 residents in 2017 - nearly twice the state average. (SOURCE: EDCO Central Oregon Profile)
BEST PERFORMING SMALL CITIES IN THE US
#1Milken Institute – 2016, 2017 & 2018
BEST PLACES TO LIVE IN THE US
#8New York Post – 2016
SMALL CITIES FOR BUSINESS & CAREERS
#1Forbes – 2016
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BEND, OREGONWith a population of 94,500, Bend is the seventh-largest city in Oregon and the largest city in Central Oregon, serving as its de facto commercial, recreation and social center. Situated on the eastern edge of the Cascade Range along the Deschutes River, Bend joins forested mountain highlands and high desert plateaus, offering a diverse range of scenery and outdoor activities while offering relatively convenient access to major West Coast Metropolitan Areas.
LIFESTYLE DESTINATIONBend has a deserved reputation for attracting lifestyle migrants – urban dwellers seeking amenities typically associated with larger metropolitan areas but also outdoor recreational pursuits, a beautiful setting and an accessible community feeling. As such, the city attracts families and entrepreneurs from all the West Coast metro areas as well as other major population centers. The city has been adopted as a gateway for many outdoor sports, including mountain biking, skiing and snowboarding, dog sled racing, fishing, hiking, rock climbing, white-water rafting and golf. Bend also offers a thriving arts and culture scene, and the city’s beer brewing industry and restaurants are a draw for tourists and locals alike.
Skiing at Mt. Bachelor
Downtown Bend
OSU-Cascades20
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BEND, OREGON SUBMARKET
JOB GROWTH
19.9%Projected by 2022
WAGE GROWTH
25.2%Projected by 2022
UNEMPLOYMENT RATE
3.6%2019
DEVELOPMENTEconomically, Bend started as a logging town, but began a transition to a more varied, sustainable economy in the 1980’s when it became apparent that the lumber mills would no longer be vital. Economic Development for Central Oregon (EDCO) was born in the dark days of the 1980’s, when many downtown businesses were boarded up.
Unlike resort communities such as Aspen or Jackson Hole, Bend’s lifestyle and quality workforce is a draw for many successful companies in the aviation, manufacturing, renewable energy, high-tech, healthcare and recreation equipment sectors. Many of Bend’s companies are owner-operated and in the small to midsize range, typically with 10 to 50 employees. Companies like Breedlove Guitars, G5 Search Marketing, Deschutes Brewery, Hydro Flask and Bend Research provide solid employment and bring in vital traded-sector dollars to Bend’s economy.
A driving force for our economic performance is a collaborative and inclusive entrepreneurial community. This is supported via the number of new business registrations, which has outpaced far larger cities. Bend registered one new business for every 28 residents in 2017 - nearly twice the state average. (SOURCE: EDCO Central Oregon Profile)
BEST PERFORMING SMALL CITIES IN THE US
#1Milken Institute – 2016, 2017 & 2018
BEST PLACES TO LIVE IN THE US
#8New York Post – 2016
SMALL CITIES FOR BUSINESS & CAREERS
#1Forbes – 2016
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BEND, OREGONWith a population of 94,500, Bend is the seventh-largest city in Oregon and the largest city in Central Oregon, serving as its de facto commercial, recreation and social center. Situated on the eastern edge of the Cascade Range along the Deschutes River, Bend joins forested mountain highlands and high desert plateaus, offering a diverse range of scenery and outdoor activities while offering relatively convenient access to major West Coast Metropolitan Areas.
LIFESTYLE DESTINATIONBend has a deserved reputation for attracting lifestyle migrants – urban dwellers seeking amenities typically associated with larger metropolitan areas but also outdoor recreational pursuits, a beautiful setting and an accessible community feeling. As such, the city attracts families and entrepreneurs from all the West Coast metro areas as well as other major population centers. The city has been adopted as a gateway for many outdoor sports, including mountain biking, skiing and snowboarding, dog sled racing, fishing, hiking, rock climbing, white-water rafting and golf. Bend also offers a thriving arts and culture scene, and the city’s beer brewing industry and restaurants are a draw for tourists and locals alike.
Skiing at Mt. Bachelor
Downtown Bend
OSU-Cascades
222222
ECONOMYCentral Oregon has a reputation for welcoming new and relocating businesses without sacrificing workforce, talent, quality healthcare, transportation or infrastructure. A driving force behind the region’s economic
performance is a collaborative and inclusive entrepreneurial community, demonstrated by the high number of new business registrations, which outpaces far larger cities. Bend, Oregon registered one new business for every 28 residents in 2017 – nearly twice the state average.
Given its size, Central Oregon boasts a high number of community resources and assets available to new and growing businesses, including the largest angel conference in the West, the Bend Venture Conference. Additionally, Oregon’s overall business costs rank significantly lower than its neighbors to the north and south. Average electricity rates,
natural gas rates, state and local sales tax rates and business tax climates in particular are significantly lower than other states in the Pacific Northwest.
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CENTRAL OREGONCentral Oregon has led Oregon’s population growth over the last two decades and continues to be one of the fastest growing areas of the country. For ten consecutive years Central Oregon has led the state in job growth, creating a region that is characterized by dynamic small businesses and entrepreneurial activity. The area boasts strong clusters in high technology (software, hardware and energy), advanced manufacturing, biosciences, renewable energy, brewing and distilling, value-added food products and recreation equipment.
For most residents Central Oregon is a lifestyle choice, offering a friendly environment, year-round recreation options and world-class amenities. The region is served by Roberts Field, a commercial airport offering service at Redmond Municipal Airport.
Redmond Municipal Airport
Redmond Municipal Airport provides commercial air service with daily non-stop flights to Denver, Los Angeles, Phoenix, Portland, San Francisco, Salt Lake City, Seattle and Chicago via carriers American, Alaska, Allegiant, Delta, Sun Country, United and United Express. The airport is undergoing a $5.2 million expansion to meet the rising demand for transit in and out of the region.
LIFESTYLECentral Oregon offers a rare mix of city amenities and restful isolation, including the slower speed of a small town with a medical community and infrastructure not normally seen in a region of its size. Additionally, Central Oregon residents maintain a work/life balance that is difficult to achieve elsewhere.
EDUCATIONCentral Oregon is well-recognized for its high level of education, with some of the best K-12 public schools in the nation. Additionally, the region’s higher education opportunities abound. From Oregon State University-Cascades’ recent expansion to Central Oregon Community College’s four campuses in the region, there are opportunities for all to obtain a quality education.
30 GOLF COURSES
MILES OF TRAILS
THRIVING ARTS & CULTURE
300 DAYS OF SUNSHINE
30 BREWERIES & COUNTING
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ECONOMYCentral Oregon has a reputation for welcoming new and relocating businesses without sacrificing workforce, talent, quality healthcare, transportation or infrastructure. A driving force behind the region’s economic
performance is a collaborative and inclusive entrepreneurial community, demonstrated by the high number of new business registrations, which outpaces far larger cities. Bend, Oregon registered one new business for every 28 residents in 2017 – nearly twice the state average.
Given its size, Central Oregon boasts a high number of community resources and assets available to new and growing businesses, including the largest angel conference in the West, the Bend Venture Conference. Additionally, Oregon’s overall business costs rank significantly lower than its neighbors to the north and south. Average electricity rates,
natural gas rates, state and local sales tax rates and business tax climates in particular are significantly lower than other states in the Pacific Northwest.
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CENTRAL OREGONCentral Oregon has led Oregon’s population growth over the last two decades and continues to be one of the fastest growing areas of the country. For ten consecutive years Central Oregon has led the state in job growth, creating a region that is characterized by dynamic small businesses and entrepreneurial activity. The area boasts strong clusters in high technology (software, hardware and energy), advanced manufacturing, biosciences, renewable energy, brewing and distilling, value-added food products and recreation equipment.
For most residents Central Oregon is a lifestyle choice, offering a friendly environment, year-round recreation options and world-class amenities. The region is served by Roberts Field, a commercial airport offering service at Redmond Municipal Airport.
Redmond Municipal Airport
Redmond Municipal Airport provides commercial air service with daily non-stop flights to Denver, Los Angeles, Phoenix, Portland, San Francisco, Salt Lake City, Seattle and Chicago via carriers American, Alaska, Allegiant, Delta, Sun Country, United and United Express. The airport is undergoing a $5.2 million expansion to meet the rising demand for transit in and out of the region.
LIFESTYLECentral Oregon offers a rare mix of city amenities and restful isolation, including the slower speed of a small town with a medical community and infrastructure not normally seen in a region of its size. Additionally, Central Oregon residents maintain a work/life balance that is difficult to achieve elsewhere.
EDUCATIONCentral Oregon is well-recognized for its high level of education, with some of the best K-12 public schools in the nation. Additionally, the region’s higher education opportunities abound. From Oregon State University-Cascades’ recent expansion to Central Oregon Community College’s four campuses in the region, there are opportunities for all to obtain a quality education.
30 GOLF COURSES
MILES OF TRAILS
THRIVING ARTS & CULTURE
300 DAYS OF SUNSHINE
30 BREWERIES & COUNTING
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1 Mile 3 Miles 5 Miles Trade Area2018 Population 2,224 22,096 65,565 228,9592018 Daytime Population 1,690 12,190 46,998 224,9012023 Population 2,465 24,643 73,440 254,2582010-2018 Growth Rate 1.48% 2.29% 2.06% 1.87%2018-2023 Growth Rate 2.08% 2.21% 2.29% 2.12%2018 Median Age 41.9 39.8 39.5 42.82018 Households 854 8,453 27,188 91,5632023 Households 941 9,393 30,321 101,3202010-2018 Growth Rate 1.34% 2.20% 1.93% 1.76%2018-2023 Growth Rate 1.96% 2.13% 2.21% 2.05%2018 Avg. Household Size 2.60 2.59 2.39 2.482018 Avg. Household Income $92,204 $88,982 $85,790 $78,5582018 Med. Household Income $74,303 $67,564 $60,134 $57,1232018 Per Capita Income $35,399 $34,837 $35,784 $31,6302018 Avg. Home Value $404,440 $436,199 $448,144 $395,8052018 Housing Units 943 9,284 30,434 113,5062018 Vacant Housing Units 89 831 3,246 21,9432018 Owner Occupied Units 687 5,986 16,150 62,3052018 Renter Occupied Units 167 2,467 11,037 29,2592018 Population Age 18+ 1,733 17,194 51,771 180,960High School Diploma 251 2,473 7,005 32,225Bachelor’s Degree 375 4,132 12,022 32,516Graduate/Professional Degree 213 2,578 7,870 20,0442018 Businesses 87 1,064 4,463 10,5042018 Employees 1,111 10,603 44,257 96,9192018 Unemployment Rate 2.4% 2.7% 3.2% 4.5%
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Clausen Center
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Clausen Center
Source: ©2018 Esri
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©2019 Esri Page 1 of 1
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CONFIDENTIALITY & DISCLAIMERDISCLAIMER: This marketing package has been prepared by Compass Commercial Real Estate Services (Compass Commercial) in full cooperation with the Seller of the Property solely for the purposes of providing preliminary information to prospective purchasers. It is not intended as the sole source of property and operational data and should not be relied on in place of appropriate due diligence activities. Neither Compass Commercial nor its agents can guarantee accuracy and no liability is assumed for financial, operational, physical, or other information provided herein including, but not limited to, errors and omissions, transmittal of inaccuracies, prior sale, price adjustments, or removal from marketplace without notice. Any indicated value of this investment is based upon assumptions, projections and estimates, which are variable by nature and subject to changing economic conditions. The value of this investment to you will also depend on tax and other factors, which should be evaluated by your tax and legal experts or advisors. It is your responsibility to independently confirm information received about the property to your satisfaction and you are urged to seek advice from your own attorney, CPA, design consultant, franchise representative, and/or other qualified professionals in your investigation of this opportunity.
CONFIDENTIALITY: The enclosed information is to be treated as non-public confidential business information and is to be held in strict confidence by all prospective purchasers and/or their legal agents. In no event will prospective purchasers and/or their legal agents use or reproduce for distribution any of the enclosed information for any purposes other than analysis and evaluation of the proposed sale.
DISCLOSURE: Compass Commercial reserves the right to accept referral fees, finder’s fees and supplementary payments from lenders, real estate brokers, appraisers and other professional services to which we refer clients. We suggest that when you contact a professional service referred to by Compass Commercial, you ask if this referral fee will affect the final cost that you will pay.
EXCLUSIVE: The property represented herein is exclusively listed for sale by Compass Commercial Real Estate Services. All negotiations for the purchase shall be conducted through Compass Commercial Real Estate Services.
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DAN KEMPPartner, BrokerDirect 541.848.4076Cell [email protected]
ADAM BLEDSOEBrokerDirect 541.848.4054Cell [email protected]
EXCLUSIVELY LISTED BY:
CLAUSEN CENTER63830 Clausen Road, Bend, OR
