Oregon State University-Cascades purchased the office building at 650 SW Columbia St. in Bend, OR for $3.8 million, or about $138 per square foot.
The 28,059-square-foot building is situated on a 1.24-acre parcel overlooking the Deschutes River in the Mill Point Business Campus.
Oregon State University will reportedly house administrative staff, graduate teaching and counseling programs in the building. The purchase was funded with $2 million in lottery bonds, $1 million from the University, and the remainder by private supporters including ex-Bend Mayor Allan Bruckner.
Amy Cawrse and Patrick Oliver of Oliver Commercial Group in Bend represented the seller, Charles Bonnett. Brian Fratzke of Fratzke Commercial Real Estate Advisors in Bend represented Oregon State University.
For further information on this transaction, please see CoStar COMPS #2202656.