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A prime piece of bank owned commercial real estate in downtown Bend has sold. The Penney Galleria on the corner of Wall Street and Oregon just sold for $2 million. Darren Powderly of Compass Commercial says it’s a positive sign for the downtown: “It's nice to see these transactions. It's a bit of a reset. It’s painful and it's exciting. Long term for the downtown it will benefit the downtown area. New investors are coming into the downtown and investing in the downtown.” The Penney Galleria sits on a corner that has seen several other renovations. The existing tenants in the galleria like Sports Vision and Common Table will remain.

 

 

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