BEND, OR -- The former site of the Murray and Holt car dealership in Bend is slated for redevelopment. Brooks Resources announced Monday it has closed on the property at NE Second and Franklin for an undisclosed amount of money; the nearly two-acre site was listed at $2.9 million.
Pat Kesgard, with Compass Commercial Real Estate, says it’s an example of the transition that’s coming to Bend’s newly designated Central District. "We’re in contract on that for redevelopment; and that [redevelopment push] will play into, in some cases, just retail, in others, retail, office and perhaps living." Bend’s Central District has been identified by the city for infill and redevelopment opportunities.
Murray and Holt opened in Bend in 1957; it stopped selling new cars during the economic downturn and shut down completely last fall. Kesgard acknowledges the dealership was a Bend fixture, but tells KBND News redevelopment is expected, "The auto industry downturn during the recession killed them carrying national brands, so it’s just a natural transformation. Furniture stores went through this same cycle; it’s just part of the retail and real estate evolution."
Kirk Schueler, President and CEO of Brooks Resources, said in a statement, "While we have explored different development concepts, we don't have an immediate plan for the property. We're making an investment in the potential of this land and hope to create a mixed-use development in the future that is well received by the entire city of Bend."
