This property is Off-Market
960-1001 SW Disk Drive
Bend, OR 97702 ·
61,000 SF · Office For Sale
|Building Size||61,000 SF||Building Class||A|
|Property Sub-type||Office-Business Park||Year Built||1985|
|Property Use Type||Investment||Lot Size||7.86 AC|
|Cap Rate||7.50%||Parking Ratio||3.80 / 1,000 SF|
|Listing ID: 16377729||Date Created: 08/31/2009||Last Updated: 05/21/2010|
The Property is a 61,000 square-foot Class A, 6-building, 1- and 2-story office park that was developed in stages from 1985 to 2007. The property has enjoyed a steady tenant base, many of whom have been tenants at the Property for a number of years. This offering presents an excellent opportunity for a qualified investor to acquire one of the highest quality office complexes that Bend has to offer, with significant upside potential from lease-up of existing vacant space.
A qualified buyer may assume the existing loan with a current balance of $11,984,000, at an annual interest rate of 5.77% amortized over 35 years, all due and payable in February 2017.
Deschutes Ridge is ideally located in the Old Mill Section of Bend and offers dramatic views of the Deschutes River and the snow covered peaks of the Cascades, including the Three Sisters and nearby Mt. Bachelor. Bend is the largest city in Central Oregon, located 160 miles southeast of Portland.
Please contact Gary Griff or Jim Lewis for additional details, or download the attached Confidentiality Agreement to receive a complete Offering Memorandum.
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