As we review the most recent Milken report about Bend and Redmond (Combined as one MSA), we read that increased demand on housing and Commercial Properties for purchase and for lease continues. Since 2011 we have seen the rebound of our commercial market. Currently, there is only 174,488 RSF of Industrial Space for lease of which 83,000 RSF is from one non demisable building. With less than 92,000 RSF of industrial space for lease in Bend, we are experiencing existing companies in Bend relocating to Sisters, Redmond, Madras, Prineville, and to the Willamette Valley. Fratzke Commercial currently represents 7 restaurants each of whom are looking for an existing move in ready restaurant location of 1,500 to 2,500 RSF in Bend. Inventory is tight and turnover has slowed.
Yes, Bend is on fire once again from a Seller’s perspective. If you have commercial space coming available, please let your commercial broker know in advance. More than likely, there are qualified Tenants at the ready to begin leasing the suite today.
Read the full report here: MI-RPOT-Bend-Redmond-Case-Study-Final-Feb-2017
-Brian Fratzke, CCIM, Principal