Bend, Ore. — Hanley Investment Group Real Estate Advisors has completed the break-up of Bend River Village, a Petco-anchored shopping center located in Bend. Two parcels of buildings at the center were sold for a combined $12.2 million.
In the first transaction, a two-tenant retail pad occupied by Aspen Dental and America’s Best Contacts & Eyeglasses was acquired by a private 1031 exchange buyer from Newport Beach, California. The 7,501-square-foot building was sold by a developer based in Sun Valley, Idaho, for $5.4 million. Beau Velten, Jeff Lefko and Bill Asher of Hanley, in association with ParaSell Inc., procured the buyer and represented the seller in the disposition.
In the second transaction, Petco and a freestanding, two-tenant retail pad occupied by Companion Pet Clinic and U.S. Cellular were acquired by a private 1031 exchange buyer based in Bozeman, Montana. The buildings total 19,773 square feet and were acquired for $6.8 million. Velten, Lefko and Eric Wohl of Hanley, in association with ParaSell Inc., sourced the buyer in the transaction.