Bend, Ore. – When snow and rain collapsed the roof on the former home of Ray’s Food Place on SW Century Drive Wednesday, Bend temporarily lost a high-profile commercial property.
However, a local broker representing the property thinks the building will not only be rebuilt, but it could be rendered more enticing to a wider range of tenants.
The property management company , G Group, based in Eugene, are still assessing the damage before determining their next move.
Lolal brokers believe the collapse has created an opportunity to make the structure more appealing to a variety of tenants, including those looking for office and medical space.
The 40,570-square-foot building, at 210 SW Century Drive, was completed in 2000 for Ray’s Food Place. However, C&K Market Inc., which owns Ray’s Food Place, filed for bankruptcy in 2013 and closed or sold 16 of the grocery chain’s approximately 60 stores, including the one in Bend. The building that housed it, in the Westside Village shopping center, has sat vacant since the end of 2013 even as the surrounding area has grown.
Peter May, broker with Compass Commercial and one of the two listing brokers on the building, said the property has attracted plenty of attention, but the owners haven’t found the right fit. The building is listed on the real estate website LoopNet for $15 per square foot per year.
Even without a large anchor tenant like Ray’s Food Place, Westside Village, at the corner of SW Century Drive and SW Simpson Avenue, has fared well. The shopping center has added tenants like Bangers & Brews Sausage House since the start of 2016, and two additional tenants are preparing to move in.
