Caraway - Commercial & Industrial Development

CARAWAY 5.0-10.8 ACRE LOTS FOR SALE

MASTER PLAN APPROVAL EXPECTED FALL 2023

COMMERCIAL & INDUSTRIAL DEVELOPMENT LAND FOR SALE New Mixed-Use Development at Cooley Rd. & North Hwy 97 in Bend

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EXECUTIVE SUMMARY The Pahlisch Caraway Commercial Lots represent a unique and exciting opportunity for developers and owner-users to participate in the explosive growth of Bend, Oregon. Caraway is a master-planned 150-acre mixed-use development on Bend’s north end that will include over 400 single and 200 multifamily housing units and 50 acres of commercial lots. The housing units will be developed by Pahlisch Homes and the commercial lots will be available for purchase by developers and companies who wish to develop and own their facilities.

The commercial lots will range in size from 3.3 to 10.8 acres and will include commercial, mixed-use, and industrial zoning. City of Bend zoning will be refined to exclude uses which would not be in keeping with the vision of the master developer. The commercial lots will be delivered with the great majority of off-site infrastructure in place. Each lot will have frontage on city streets and wet and dry utilities stubbed to the property line. The only offsite infrastructure requirement for developers will be the sidewalks and planting strips on their street frontage. The lots will be delivered with rough grading completed and developers will be responsible for finish grading based on their project requirements.

SUPREME LOCATION AT BEND’S GOLDEN TRIANGLE

EASY ACCESS TO US HWYS 97 AND 20 (58,500 AADT)

NEAR CASCADE VILLAGE SHOPPING CENTER, ROBAL PLAZA, LOWE’S, TARGET & THE FUTURE COSTCO SITE

ADJACENT TO 600+ UNIT PAHLISCH RESIDENTIAL DEVELOPMENT

FIRST STOP FROM REDMOND, SISTERS, MADRAS & PRINEVILLE

CLOSE TO JUNIPER RIDGE (500-AC INDUSTRIAL & BUSINESS PARK) 2

THE OFFERING

Lot

Acres

SF

$/SF

Price

IL1

8.7

378,972

$17

$6,442,524

IL2

10.8

470,448

$17

$7,997,616

ME1

3.3

143,748

$25

PENDING

ME2

5.0

217,800

$21

$4,573,800

ME3

9.5

413,820

$19

$7,862,580

CL1

6.0

261,360

$28

PENDING

CG1

10.7

466,092

$25

PENDING

54.0

2,352,240

$49,440,600

TENTATIVE SUBDIVISION APPROVAL EXPECTED JANUARY 2024 3

NORTH CORRIDOR REROUTE U.S. 97 is the main north-south highway through the central portion of Oregon, connecting Oregon to California and Washington. U.S. 20 is a primary east-west highway in Oregon. In the Bend area, both highways are primary routes that help local residents commute through town and connect to area shopping, dining, businesses, schools and recreation.

This project will realign one of the most congested portions of U.S. 97 in the City of Bend and improve a section of U.S. 20. The U.S. 97 Bend North Corridor project includes a realignment of U.S. 97, improved intersections, new ramp connections at critical locations to improve local and highway traffic, and pedestrian and bicycle facilities.

These improvements will do the following: • Create excellent access to the development • Support economic vitality • Reduce traffic volume and speeds at high conflict locations • Increase freight mobility • Improve travel time reliability 4

DEMOGRAPHICS WITHIN 45-MIN DRIVE TIME

POPULATION TRENDS AND KEY INDICATORS

Madras

North Triangle Development Historical Trends: Population

POPULATION Sisters

Redmond

Prineville 210,000 200,000 190,000

217,792

239,107

1.88%

2021 Total Population (Esri)

2026 Total Population (Esri)

2021-2026 Population: Annual Growth Rate (Esri)

Sunriver

INCOME

180,000

HOUSING STATS

La Pine

$70,229 POPULATION BY GENERATION

Median Household Income

$36,965 Per Capita Income

$172,663

$442,635

$10,569

$1,008

Median Net Worth

Median Home Value

Average Spent on Mortgage & Basics

Median Contract Rent

EDUCATION

Tapestry Segments

55,285

4C

2021 Baby Boomer Population (Born 1946 to 1964) (Esri)

43,908 2021 Generation X Population (Born 1965 to 1980) (Esri)

44,109

47,599

6%

23%

36%

36%

No High School Diploma

High School Graduate

Some College

Bachelor's/Grad/Prof Degree

6C

BUSINESS

2021 Millennial Population (Born 1981 to 1998) (Esri)

8C

2021 Generation Z Population (Born 1999 to 2016) (Esri)

This infographic contains data provided by American Community Survey (ACS), Esri, Esri and Bureau of Labor Statistics. The vintage of the data is 2015-2019, 2021, 2026. © 2021 Esri

9,901

92,030

6.0%

Total Businesses

Total Employees

2021 Unemployment Rate (Esri)

Middleburg

18.2%

16,060 households

of Households

The Great Outdoors

15.9%

14,042 households

of Households

Bright Young Professionals

9.6% of Households

8,453 households

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EXCLUSIVELY LISTED BY RUSSELL HUNTAMER, CCIM Partner, Principal Broker Direct 541.848.4049 Cell 541.419.2634 rh@compasscommercial.com

BRUCE CHURCHILL

Principal Broker Direct 541.848.4079 Cell 541.280.7560 bchurchill@compasscommercial.com

ELI HARRISON

Broker Direct 541.848.4059 Cell 541.977.2890 eharrison@compasscommercial.com

Brokers are licensed in the state of Oregon. This information has been furnished from sources we deem reliable, but for which we assume no liability. This is an exclusive listing. The information contained herein is given in confidence with the understanding that all negotiations pertaining to this property be handled through Compass Commercial Real Estate Services. All measurements are approximate.

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