Most Bend, Oregon locals will readily tell you that the town has grown over the past few years. Despite national economic conditions, high-interest rates, and other marketplace factors, Bend has remained relatively insulated from national trends and continues to be a haven for new businesses, investors, and commercial real estate growth and opportunity. 

In 2022, local station KTVZ reported that Bend had surpassed the 100,000 resident milestones and was hovering at around the 100,900 mark, if not higher. Since then, the popularity of the mountain ski-resort community, which now boasts a four-year college with OSU Cascades and many other attractive elements to outdoor lovers and tourists of all kinds, has only grown.

But Bend isn’t the only community in Central Oregon showing signs of growth and interest from outside the area. While the growth rate has been a bit slower, cities like Redmond, Sisters, Madras, Culver, and Prineville are also evolving quickly, and many business owners, investors, and residents are looking outside of Bend’s borders for opportunities in these smaller communities. 

Growth and Opportunity in Redmond

The City of Redmond, Oregon, has seen a robust population growth of 27% in the past decade, accounting to the City of Redmond website. The city boasts a 64% employment rate, in contrast to the state average of 59.3%. 

The Northwest Key team has found several opportunities for various businesses in the Redmond area, including BASX Solutions, LLC, Western States Fire Protection, Cleary Building Corp., Inderbitzin Distributors, 360 Sierra Inc., and eFormed Partners, for which we represented the tenant and/or the landlord.

The downtown Redmond area has been pegged as a highly desirable location for new business and will continue to be on our watchlist for clients and tenants alike.

Expansion and Affordability in Madras

With access to two major highways, an airport, affordable housing, and beautiful views, Madras, Oregon, is one of the most desirable places to enter the Central Oregon marketplace.

EDCO of Central Oregon reports that the City of Madras focuses on improving community education and offers access to a regional workforce, favorable business costs, and incentive programs for growing and relocating businesses. 

Whether you’re looking for a market with less competition or desire lower upstart and operational costs for your business or investment, Madras may be the place to invest your business. 

The Next Frontier in Culver and Prineville

The Prineville Chamber of Commerce openly states, "It’s better to do business in Prineville.” While many other local communities focus on affordability and lack of competition, Prineville still offers a small-town vibe and provides access to desirable features for new and expanding businesses or investors. At the Ochoco National Forest and Prineville Reservoir entrance, Prineville is a hidden gem for recreation. The city also offers incentive programs for growing and relocating businesses, local investments in education and healthcare, and access to two major highway systems; the City is a soon-to-be-discovered hidden gem for families and businesses.

Alternatively, Culver, Oregon, is listed as “one of the best places to live” in Oregon by BestPlacesToLive.net and offers easy access to surrounding cities like Redmond, Bend, and Madras. Its small population and positioning, equidistant to Madras and Bend, make it a super desirable location for families and investors. 

The trends are clear: Oregon’s population is growing not just in Central Oregon but all across the state. Central Oregon News Daily recently reported, "All Oregon sectors are expected to add jobs by 2031. The leisure and hospitality sector is projected to increase the fastest and add the largest number of jobs. The projected gain of 60,100 jobs (34% growth) in leisure and hospitality is mainly driven by the recovery from the pandemic, as restaurants, hotels, and arts, cultural, and recreational establishments have seen increased demand as in-person and recreational activities resume.”

That’s why, at Northwest Key, we’re looking for opportunities in Bend and our surrounding communities. 

Are you interested in learning more about our listings and expertise in commercial real estate and property management? Let’s connect.