JUST LISTED

Just south of Corvallis in the heart of Oregon’s fertile Willamette Valley is a rare warehousing, office and storage opportunity for sale and for lease. With ample office space, expansive warehouse areas, heavy power, dock and grade-level doors with Hwy 99 frontage, the property is ideal for agricultural related processing, storage, manufacturing and distribution.

The building has one tenant in place, occupying a portion of the office and the southernmost warehouse area totaling just under 10,000 SF. The tenant is paying $6,437 per month, triple-net and just signed a 3 year lease.

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FEATURED LISTING

Camp Cascade is an 87.47 acre property located in the Santiam Canyon near the Opal Creek and Bull of the Woods Wilderness areas.

Property Details:
The property was a former youth sports camp, wedding venue and company retreat destination prior to being burned by a forest fire in 2020. The restoration of the property thus far has included:

• Renovated bunkhouse (sleeps 24)

• Renovated residence (2023)

• 25,000 Planted, staked and tubed trees (40 year harvest)

• 2 high-capacity artesian wells

• New water lines and septic systems

• New underground power lines

• New transformer boxes

• All property lines marked

• Conditional Use Permit that allows housing for over 300 people when used as a youth camp

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RECENT CLOSING

On October 14th, the former Nissan of Salem location sold for $27.44/SF, raising the bar for comparable land comps.  With flexible MU-III zoning, the 3.35 acres of bare land presented an excellent opportunity for Mixed Use development in a high traffic corridor, only 1/3 mile from I-5. However, the attractiveness of the location, zoning and acreage was offset by limited comparable sales data that was able to justify the seller's desired asking price.  When confronted with seemingly unrealistic requirements, we as brokers, are tasked with managing expectations while simultaneously working to achieve lofty goals. 

Having entertained offers from local developers, regional gas station operators and national hotel brands, the unassuming buyer was just a stone's throw away. 

In the end, it truly came down to the right buyer at the right time in the right place, and you never know when that call might come through, or who could surprise you.  I learned a lot from this transaction, and it was on the verge of failure at every turn.  However, by maintaining a hands-on, proactive and dedicated approach to resolving critical, time-sensitive issues, we were able to close a tedious transaction in record time.  The most valuable takeaway from this experience has been the strength in relationships, knowing who to call, and even more important, knowing they'll answer your call. We may not always have the right answer at our fingertips, and there is no shame in admitting that.  The real value comes in knowing who does have the answer, and the confidence to lean on a trusted connection for the success of a deal, and just perhaps, exceeding the client's expectations. 

MARKET INSIGHT

An article recently released from the Federation of Exchange Accommodators outlines information regarding the IRS Code Section 1031.  The link below is reposted with permission from our friends at Equity Advantage.

Link to article here: https://www.1031exchange.com/2024-election-impact-on-1031-exchanges-fea-insights/ 

COMMUNITY SPOTLIGHT

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Salem, OR 97301