Former Bend Burger King sells for $2.05 million to neighboring car dealership
BEND, Ore. (KTVZ) -- The former Burger King located at 1091 SE 3rd Street in Bend recently sold to Kendall Development Group for $2,050,000 to Kendall Development Group for use by its adjacent car dealership.
Compass Commercial Real Estate Services brokers Russell Huntamer, CCIM and Peter May, CCIM represented the buyer, Kendall Development Group, and brokers Pat Kesgard, CCIM, Dan Kemp, CCIM, and Kristie Schmitt represented the seller, Burger King Corporation.
The sale of the 3,275-square-foot restaurant on 0.94 of an acre came with its set of challenges, Compass Commercial said in Wednesday's news release.
Amid the transaction was the shutdown created by COVID-19, taking the seller’s focus off the sale. The size of the deal for the international company caused additional roadblocks.
When lease renewal negotiations fell through, Burger King Corporation decided to sell. With the corporate office located in Canada and the regional office in Florida, there was a challenge in getting the final authority to sell the property and get a US representative authorized to sign for the corporation.
“Our initial Burger King Corporate contact was very responsive and kept us informed throughout the process,” Kesgard said. “They considered having one of their other brands move into this location, but ultimately determined to sell the property.
"Despite the various challenges, they were able to get the designated signatories in place and sign the documents. I have worked with Burger King for over 10 years, and they are a great company.”
Once the sale went through, Kendall Development Group was able to immediately start using the large parking lot to store more vehicles for inventory.
No official decisions have been made for the location, though the new owners may convert the former restaurant into an office space. The auto dealer, based in Oregon and Idaho, also owns the neighboring pre-owned car lot and Porsche dealership.
Huntamer stated, “Kendall Development Group was very committed to purchasing the property from the beginning and more than diligent and patient throughout the extended process.”
