New OSU-Cascades Campus Signals Opportunity for Investors
Former DMV Property Receives Makeover
Bend, Ore. – Compass Commercial in Bend says some investors are drawn to Bend’s Westside. One example is the office property at 1000 SW Emkay Drive, the former DMV office.
When the Great Recession hit Central Oregon in 2009, the DMV vacated the facility and the owners listed the property for sale. The building sat dormant for awhile. Compass Commercial broker, Robert Raimondi, CCIM and his clients recognized its investment potential and purchased the property.
Drawn to the building because of its ideal west side location, owners Toby and Ronda Wiltse, appreciated the property’s clean classic architectural lines and development potential.
“The former DMV building was a bit of a jewel in the rough, but as part of the old Brooks Scanlon mill property, located in the middle of Bend’s west side office park, it offered tremendous investment potential, but the building itself was in need of significant upgrades to make it attractive to tenants.”
Raimondi and his clients concluded that if OSU-Cascades went forward with its plan to develop a four-year university campus on the west side of town, then 1000 SW Emkay and its surrounding properties would see a major uptick in office demand.
“The west side of Bend is going to become the major technological and educational center of the region,” Raimondi said.
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