6E // Real Estate & Home Builders Guide // October 2017
Rental construction continues to grow in Denver
By Ilyce Glink and Samuel J. Tamkin
Tribune Content Agency
Q
: I recently heard you on the air talking
about rental construction in Denver. I
just visited my two boys there, and I saw
all the cranes up close. I wonder: Who is
filling all those new apartments? What’s the
economic engine driving Denver’s influx of
millennials?
: Thanks for reaching out and listening
to the show. Economists and housing
experts in the real estate industry think
that the primary driver in Denver is the
burgeoning tech industry. Companies are
either moving there or opening up satellite
offices so their employees can take advantage
of the lifestyle (skiing and hiking on
weekends, biking everywhere, etc.). Because
so many jobs are available, residents from
California (an even higher cost state) are
moving as well, increasing their standard of
living.
Those millennials (and older people, too)
are renting, as are, in some cases, executives
who might live further out but need a place
for weekdays. You are also seeing a fair
number of retirees moving to the greater
Denver area.
If your kids wind up in Denver, will you
A
eventually move there? If so, you’re like
many parents of millennials.
But Denver is not the only place where
rental construction is going strong. There
are quite a number of urban areas that are
attracting millennials. Downtown areas
offer a large variety of restaurants, things
to do and close access to workplaces. Since
millennials are waiting longer to have kids,
they have more time to enjoy the benefits of
urban living. And, some are now staying.
In some urban areas, schools systems have
Discover why
over 17 million
homeowners
trust State Farm .
®
With your new home comes new responsibilities – like protecting your
new investment with the right amount of homeowners insurance.
That’s where we can help.
Like a good neighbor, State Farm is there. ®
CONTACT AN AGENT TODAY.
Julie Mansfield Smith
541-934-2946 Office
541-519-6891 Cell
Principal Broker/Owner
cuppercreeklandco@gmail.com
cuppercreeklandcompany.com
41909 Cupper Creek Rd.
Kimberly OR 97848
PENDING! 73 Acres ~ Views! RV cover/well/ septic/.
Surveyed/fenced In Spray. NOW $135,000!
80 Ac. Land near Heppner ~ Nicely timbered
property with creek! NOW $150,000
REDUCED! 11 Ac. Land in Kimberly ~ River
frontage w/fruit orchard. TERMS! $175,000
PENDING! 385 Ac. On Starvation Ridge in Spray ~
Surveyed/w/river view/recreation. $240,000
BACK ON MARKET! BORDERS PRIVATE LAND
320 Acres Land ~ Frank’s Creek Rd. in Dayville.
$250,000
NEW! 29 Ac w/River Views and 2/2 Home. Borders
BLM in Spray. $325,000
PENDING! 260 Acres of secluded hunting and
recreation w/ creek in Spray. $350,000
REDUCED! 276 Ac Land in Kimberly ~ River
frontage/Water rites/Borders BLM. $400,000
BACK ON MARKET! 20 acres Home/Cabin/Shop ~
on John Day River in Twickenham $625,000
improved enough to keep millennials from
moving to the suburbs.
You also need to keep in mind that
millennials typically graduate from college
with a considerable amount of debt, including
student loans and credit card debt. With that
debt, they often simply can’t afford to buy
a home right out of college. In addition, we
think that the financial stress millennials face
with their added debt pressures probably will
keep a good part of them renting for some
time in Denver and elsewhere.
PENDING! 718 Acre Mountain property near
Starvation Ridge. 3 parcels. $725,000
3 Crow Ranch in Spray ~ 604 ac. dryland farm w/
home, shop, good springs. $750,000
296 ac Hay ranch/Shop/corrals/river frontage//
view property in Kimberly. $1,400,000
2356 Timbered Land on Beltshaw/Wildcat/Stud
Creeks. Borders FS $2,225,000
SOLD! 92 Acres Land ~ on John Day River in
Twickenham . $150,000
SOLD! Doolittle Canyon Lane ~ 40 Acres w/ MH,
shop, ponds . Heppner. $189,500
SOLD! 640 Ac. on Huckleberry Creek ~ Awesome
rec/hunting retreat. Terms OAC. $395,000
SOLD! 783 Ac in Dayville ~ Grazing/hunting land/
pond in Ochoco unit. NOW $425,000
SOLD! Cathedral Rock Ranch ~ 1076 Ac. in
Kimberly. Home/River/BLM permit. $1,500,000
Dan Ceniga, Agent
1704 SW Frazer Ave
Pendleton, OR 97801
Bus: 541-276-3182
dan.ceniga.b739@statefarm.com
NEW LISTING! Secret Valley Ranch in Mt
Vernon ~ 198 Acre Horse property with upscale
remodeled 4/3 home, indoor covered riding
arena, barn, corrals, shop, feeder stalls, vinyl
fencing and lots of privacy!
Room to roam and ride into the
sunset. Immaculate facilities
. MOTIVATED SELLERS LOOKING
FOR OFFERS! $599,500
statefarm.com ®
0907508.1
Full-Service Property Management
Stan Henderer, Agent
33 SE Dorion Avenue
Pendleton, OR 97801
Bus: 541-278-0880
stan.henderer.lo18@statefarm.com
State Farm Fire and Casualty Company, State Farm General Insurance Company, Bloomington, IL
WHITNEY AND ASSOCIATES
37 SE Dorion , Pendleton, OR 97801 • 541-276-0021 • Fax 541-276-6749
COMMERCIAL LISTINGS
$3800 MO
LEASE
FORMER CUMMINS NORTHWEST TRUCK REPAIR. 3 drive through bays, 1 with 16’
overhead door, 2 with 14’ overhead doors, 1 space with 9’ overhead door. Office, break room,
2 bathrooms, air, storage. Ample parking, room to drive around entire building. Potential for
full service automotive/truck service. Near freeway, motel, food, Walmart. Jef Farley 541-969-
9539cell. #17696772
17 SW Frazer Ave, Suite 372
541-276-3335
www.webbpropertyresources.com
PROPERTY
OWNERS!
Ask us how to get
50% OFF
your fi rst month
$1200 MO
LEASE
COMMERCIAL RETAIL SPACE LOCATED IN THE HEART OF PENDLETON ON MAIN
STREET. Beautifully remodeled exterior blending in perfectly with the historic downtown.
Parking lot near the rear entrance. 750 sf(m/l) mezzanine for office, etc. Basement area
for storage. 2 bathrooms. Nice open space perfect for retail or office. Near many landmark
businesses. Jef Farley 541-969-9539cell. #17250013
$995,000
THIS WAS THE HOSPITAL MEDICAL OFFICE BUILDING. 25,509+/- sf of office building
on about 1.3 acres (subject to land partition and government approval). 3 floors, lobby with
elevator, modern steel construction, many bathrooms, offices, reception areas. Up to 2.12
additional acres available. A tremendous value at a fraction of the cost to build. Located on
the East entrance to town, high traffic count and visibility. Jef Farley 541-969-9539cell.
#17401904
extra storage in loft. Forced air gas heat/cool. Building is metal with a metal roof for easy upkeep.
Nicely landscaped. Cari Volger 541-377-5058cell. #16273028
$289,900
REDUCED
COMMERCIAL BUILDING next to River on high traffic street. Great for professional, retail, tourist
oriented business and more. 3548 sf(m/l) on main floor, plus full basement and 2nd story space.
On-site parking. Attractive rock facade. Call Vicki Dick 541-969-9441cell. #17253884
$239,900
ZONED M-1, COMMERCIAL PROPERTY, APPROX. 5,000 SF. 7 units, sizes and rents vary.
Rental details in file, some offices are vacant. Tenant’s personal property not included in sale of
property. Parking spaces in front of bldg. Newer (2005 approx.) 25 yr. rubberized roof. Tenants
pay their own utilities and are responsible for any glass damage. Marsha Morgan 541-377-
5152cell. #17335668
$195,000
NEW/COMMERCIAL
COMMERCIAL 2 STORY BRICK OFFICE BUILDING WITH BASEMENT. 2 separate sides that
can be used as 1 business or 2 separate businesses. Kitchen area plus lots of space for storage.
Gas heat and cool. Building is located close to downtown Pendleton with easy access, paved lot
for off street parking. Cari Volger 541-377-5058cell for more information and to schedule a
showing.#17041466
$630,000
COMMERCIAL RETAIL LOCATION IN DOWNTOWN PENDLETON. Building for sale only,
business will remain under an existing lease. 15000 Sq.Ft main building on 1.47 acres with 3
outbuilding for additional storage or truck parking. This is a prime, long term established, high
traffic building across from the Umatilla County Court House. Perfect for retail, commercial or
storage. Please allow 24 hour notice, qualified buyers only. Kevin Hale @ 541-969-8243.
#17508571
$185,000
BECOME YOUR OWN BOSS. Get away from your J.O.B. (Just over Broke) and invest in your
own business. Wine bar with certified kitchen available for purchase. Includes light fixtures,
liquor license, wine stock, bar, tables and chairs and more. Expand the seating, offer food, the
potential is incredible and the location is great! (Does not include building, but the lease is already
negotiated for you.)Dawn Blalack 541-310-9563cell. #17375188
$595,000
PILOT ROCK
COMMUNITY PRESBYTERIAN CHURCH IN PILOT ROCK, OR. 2 buildings.
Church built in 2010 with 7,488 sf(m/l), zoned R1. School/class rooms built in
1954 with 7,440 sf(m/l), zoned C1. Connected by breezeway. 2 tax lots. This
excellent property could have multiple uses. Check with city for zoning information.
Property is in excellent condition. Seller will consider selling buildings separately.
Jef Farley 541-969-9539cell. #17261025
$135,000
PILOT ROCK
MAJESTIC, HISTORIC BRICK COMMERCIAL BUILDING LOCATED ON MAIN STREET,
PILOT ROCK, OR. Restaurant on main floor, 2 bedroom 2 bath apartment upstairs. Tenants
would like to stay. Potential for additional apartments.t. Marsha Morgan 541-377-5152cell.
#17258860
$475,000
MAJOR PRICE REDUCTION
EASY FREEWAY ACCESS. 1.52 acres that can be subdivided, power & water at street for
vacant lot. 6,000 sf(/l) commercial building includes 3 offices, kitchen, and handicap accessible
restroom w/shower. Warehouse has concrete flooring, truck door for loading, 2 man doors, and
$109,900
PRICE REDUCED
LOCATE YOUR BUSINESS with the greatest concentration of retail and business activity. High
traffic counts and zoned C-1 with many business uses permitted. Corner lot with 100’ frontage
off of Emigrant. Kevin Hale 541 969-8243cell. #12422421
$132,000
UKIAH
SUPPLY STORE IN UKIAH. Family owned business since 1988. Store w/office, restrooms on
100’x66’
lot.
All
inventory,
excluding liquor & pepsi and coke coolers, are included in sale of
$520,000
ENTIRE CITY BLOCK in core of downtown Pendleton. 3 buildings (3 tax lots), old business. Purchaser must apply for their own liquor license. Certified woodstove plus electric
heat.
2
freezers
in
store
and
1
freezer in back, 8’x20’refrigerated container for wild meat. Business
tri-cinema (10k sf), old D&G Gifts (4k sf), 3rd (1569 sf), 20K+ (2 tax lots) parking
lot. Prime downtown location with great visibility. Jef Farley 541-276-0021. income information available to pre-qualified buyer. Marsha Morgan 541-377-5152cell.
#17043912
#16603169