Old Mill Market closes
Published 4:00 am Thursday, December 1, 2005
When the Old Mill Market opened its doors for business Wednesday morning, there was no hot coffee for sale.
But the coffee maker was up for grabs. Ditto the sandwich slicer, deep fryer and every other piece of equipment that made the deli’s food a neighborhood favorite.
The business, which also included a convenience store and gas station, shut its doors for good two weeks ago after owners got a $2 million offer for their 5,200-square-foot building and adjacent land from Selco Community Credit Union. The building, which is located near the intersection of Bond Street and Wilson Avenue, had been on the market for about four months.
On Wednesday, owners reopened to sell off everything in the store.
Co-owner Tom Healy was sorry to close the popular store.
”It was definitely some soul searching,” Healy said of the decision to sell the 3-year-old business.
The Eugene-based credit union, officials of which could not be reached Wednesday, plans to remodel the building and open a new branch in Bend, Healy said.
Store owners started telling customers about three weeks ago that the building had sold and the business would close.
”A lot of them were really shocked because we were always busy,” Healy said Wednesday during a break from disassembling and liquidating his store.
Broker Peter Lowes handled the sale and said the $2 million price reflects strong interest in Old Mill District-area real estate, which he estimates has appreciated by as much as 30 percent over the past three years.
”I think it’s very desirable,” Lowes said. ”And when land does become available in the Old Mill, it doesn’t stay on the market very long.”
Healy’s property, which his partnership bought for $430,000 in April 2001 without the building, sold after about 120 days on the market.
”I think what it amounts to is the Old Mill has done such a good job, it has basically pushed us out,” Healy said about the decision to sell.
Healy, who opened the store with his sister, Chris Hart, said he will focus on operating his other gas station and convenience store, Expressway, on Reed Market Road.
Customers, many of whom worked in the nearby offices in the area above the Deschutes River bluffs, said they will miss the convenience of walking to the market for lunch or a snack.
”I used to go over there quite a bit,” said Kevin Hoar, a financial adviser who works nearby at Morgan Stanley.
”For being inexpensive and convenient, it had some quality food. It made lunch very pleasant,” he said.
Rachel Hamilton isn’t sure where she and her co-workers at Cascade Kids Dental will go now that the market is closed. The store was the only convenience store and one of only two sandwich shops in the area above the bluffs in the Old Mill District, an area populated with offices.
”We only have a half an hour for lunch, so it was convenient,” said Hamilton, a receptionist. ”It would be nice to have another (store) around.”
In fact, the other deli in the area, Leonardo’s Cafe and Bakery, has seen an uptick in business since Old Mill Market closed in mid-November.
”We’re kind of tucked away; there is a lot of people that don’t know we’re here,” said co-owner Robin Leonardo. ”But we have seen a lot of their business, people asking if we have breakfast burritos and those kinds of things.”
For bargain hunters, many of them from the local restaurant industry, the closing was an opportunity to grab some hardware at fire-sale prices.
Local restaurateur Frank Cibelli shortened a visit to Florida after he got a call on the golf course from Healy saying the market was closing.
”I came up to do this,” said Cibelli, who had three trucks outside the market Wednesday and plans to rent a moving van to cart away several thousand dollars worth of restaurant equipment.
The stainless-steel tables and countertops will go into a new restaurant that Cibelli, who already owns three pizza shops in the Bend area, is opening in Redmond this winter.
”We’re just building right now, so the timing is perfect,” he said.