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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