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Commercial Real Estate Market Remains Tough In Bend

BEND, OR -- While Central Oregon’s housing market remains tight, the commercial landscape is also making it difficult for businesses looking for a new home.

Brian Fratzke, with Fratzke Commercial Real Estate, says July is usually a good time to buy, "For commercial leasing, it’s pretty slow. But, for commercial sales, it’s usually pretty good. So, I did a little research. We have ¼ the inventory for sale that we had a year ago." Fratzke tells KBND News, "We sold a lot of inventory in the last 12 months. Maybe volumes that we haven’t seen before. We sold it to both owner/user, so that’s someone who needs to buy a building and move in, and investors. But, the second thing we saw is a whole bunch of people that own commercial real estate have said, ‘Why would I sell it now? I’m getting a 10% return on my money; that’s better than my other investments."

And, while some industrial construction is happening in Redmond and Prineville, Fratzke says land isn't available in Bend to build something new, "The reason why those areas, Redmond and Prineville, have a little more activity going on is they have the land. They have the land that can be developed. And in Bend, it’s pretty busy around here; not a lot of commercially zoned land for sale."

To hear our full conversation with Brian Fratzke, visit our Podcast Page

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