If you were to take a drive across Salem, you will likely see a handful of buildings that aren't just structures but collections of memories. One such place, which longtime Salem locals will fondly remember, is the restaurant that once dished out spaghetti and meatballs in hearty portions at 920 Commercial St, right beside Gerry Frank’s Konditorei.

Yes, we're reminiscing about The Old Spaghetti Warehouse, a Salem family dining staple that has since transitioned into a mere "Old Warehouse" after they closed their doors in 2010, leaving it unoccupied for nearly a decade and a half.

However, the narrative of this cherished location is taking a turn towards rejuvenation, thanks to collaborative efforts.

My colleague Josh Kay and I had the privilege of representing the property's owner, a Salem native with a vision not just for the sale of the building but for the Salem community.

In an inspiring twist, the owner pledged a significant portion of the net proceeds from the sale to the Salem Family YMCA, underlining a commitment to give back to the community that is very near and dear to them.

I broke this down in another newsletter I released, ‘🏙 5 Lessons I Learned My First Year In Commercial Real Estate…

Working with CoStar and Loopnet

After a period of marketing efforts we were lucky to connect with another Salem local eager to breathe new life into this iconic space and willing to navigate the complexities of such a unique transaction.

This transaction wasn't simply about the sale of real estate though…it was about philanthropy, collaboration and revitalization.

Working closely with the Owner, their attorney, the YMCA's legal team and representatives, we ensured that the sale honored the owner's charitable intentions, while also paving the way for a new chapter for more once neglected properties to be brought to the market for the opportunity to create new locations that bring people together just like The Old Spaghetti Warehouse once did.

Working collaboratively to get it done…

The sale's completion and the subsequent generous donation to the Salem Family Y marked the end of our role but the beginning of a new era for 920 Commercial St. This process served as a reminder that sometimes our work is about more than selling a vacant building or piece of land, it's about the power of collaboration, the importance of philanthropy, and the potential for old spaces to foster new beginnings.

THE PLUG
Listing of the week

Brand new construction single family home with an ADU in South Salem built to newest code and energy standards. Constructed by a longtime local developer. Located in the Fairview area which is a booming area of growth for South Salem sitting adjacent to a future City of Salem park. This product is a 3-story unit model which is optimized for efficiency and function. The main level features two private garages and a private entrance to the common area to access the 2nd and 3rd floor units along with a private entrance to the main level bedroom. The floor plan allows for a mix of tenant rent scenarios for an owner-user or an investor looking to optimize their rentable space.

Have questions? Click here to learn more.

Community Spotlight
Salem’s Distinguished Young Professional - Conrad Venti

Known to many for his restaurant ventures, including Basil & Board, which have added vibrancy to Salem’s downtown, Conrad Venti is widely respected and admired even more for his community-building efforts.

Along with providing fellow businesses and organizations with opportunities as a real estate broker at First Commercial Real Estate, Conrad has donated much of his time and attention to serving on non-profit boards, including for Family Building Blocks and Isaac’s Room. He was also recognized by many for helping small businesses apply for COVID relief funds during one of the most difficult times our community has ever seen and for consistently rallying fellow business owners to address the most pressing challenges of the day. Additionally, seeing a need for financial literacy amongst our youth, Conrad has taught courses on personal finance and leadership at the Chemeketa Center for Business and Industry.

A father of five children, Conrad has demonstrated a mastery of balancing the importance of family, business, and community work, along with a willingness and devotion to tackle any need or issue our community is facing.

Stay tuned for more honoree announcements, and see below for the event details.

73rd First Citizen Awards Banquet
Saturday, April 13
Salem Convention Center

GET TICKETS: https://salemchamber.org/events/first-citizen/

Have questions? Click here to learn more.