The home of Bend’s only Applebee’s is for lease, but the restaurant remains open.

Compass Commercial Real Estate Services publicized the Applebee’s building at 3197 N U.S. Highway 97, Bend River Village, in its latest “Navigator” newsletter.

The restaurant is operated by a franchisee, J&A Food Service Inc. of Redding, California. A J&A Food Service representative did not respond to a request for comment.

“Applebee’s precipitated the change,” said Mark Crose, business manager for Weigand Investments, an Oregon company that owns the property. The restaurant is on a month-to-month lease, according to a flyer created by Compass.

Crose said he’s not sure whether Applebee’s intends to close or move to a new place in Bend because the building is managed by a separate company in Idaho.

Crose anticipates that the property will be redeveloped to accommodate more than one tenant. “It’s unlikely you’re going to rent that building in its present shape,” he said.

The parcel south of Applebee’s that’s anchored by PetCo is not for lease. “PetCo has their own lease,” Crose said. “It’s a separate lease, and they’re happy there.”

Retail buildings on that stretch of N. Highway 97 have seen a lot of change. Last month Compass listed the Bend River Promenade, anchored by Macy’s and T.J. Maxx, for sale at $47.9 million.

Shopko closed because of its parent company’s bankruptcy.

The former Duck Store on NE Bend River Mall Drive closed late last year. University of Oregon Bookstore Inc. sold the property for $1.45 million, Deschutes County Assessor’s records show.

— Reporter: 541-617-7860, kmclaughlin@bendbulletin.com