Salem, OR – Cumberland Holdings, LLC, the owners of the 120 Commercial building, have officially commenced with property renovations to improve the building to be a dynamic, central part of downtown Salem.
On June 22, 2018, property owner Scott Chernoff of Cumberland Holdings and representatives from the Salem Chamber of Commerce conducted a short ceremony to break ground on the remodel. In attendance were key members of the project team including Jim Toporek of Studio 3 Architecture, Rich Duncan of Duncan Construction and Pam Rushing of Coldwell Banker Commercial (the leasing agent for the property).
“The project is a renovation and conversion to a multi-tenant building,” said Chernoff. “We will have some restaurants, possibly a bar, and creative office spaces. There will be substantial renovations, but the historic, beautiful elements of the property will be maintained.”
The renovations will start the process of adding two outdoor seating areas, a number of large windows, a well-lit alley and multiple entrances to the building. The overall framework of the building will be preserved, but it will receive a much-needed face lift.
“To see this come to fruition and to see the new life that is going to be breathed in to both of these projects is really exciting,” said Natalie Jasinski of the Salem Chamber of Commerce. “I know that it is going to make everyone in our town super stoked.”
The 120 Commercial Street building was originally constructed around 1870 as a stablehouse. Over the years the building has been leased by several restaurants. As construction continues, the property will open for prospective tenants.
“To have people coming in and breathing new life into the [buildings] helps the city’s goal of making [downtown] the center of Salem,” said City Council President, Steve McCoid. “We are very, very thankful, Scott, for bringing this to the city and for your vision.”
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About the Reed Opera House: The Reed Opera House was Built in 1870 by Cyrus Adams Reed. In its early days, the Reed was a popular location for theatre, music, food and hotel lodgings. The building has hosted a number of famous guests, such as Mark Twain, Susan B. Anthony and President Rutherford B. Hayes. www.ReedOperaHouse.com
About 120 Commercial Street: The 120 Commercial Street Building is thought to have been constructed around the same time as the Reed Opera House (1870). The first tenant to occupy the two-story building was thought to be Durbin’s Livery, a stable yard. The entire building is approximately 14,000 square feet.
About Cumberland Holdings: Cumberland Holdings is a real estate investment and asset management company that manages a number of properties in Oregon and the Northwest. The investment team includes Graham Chernoff and Scott Chernoff, both of whom grew up in Northwest Portland. They have a combined 45 years of experience in acquiring and operating real estate, with offices in Los Angeles, San Francisco and Bend, Oregon.
About the Pennbrook Company: Located in Oregon, the Pennbrook Company offers a full range of services for property owners. Jodie Vaughn of Salem will serve as the Reed Opera House’s on-site manager.
About Pam Rushing: Pam Rushing is a principal broker at Coldwell Banker Commercial Mountain West Real Estate and leasing broker for 120 Commercial, Salem Oregon. Since 1982, the professionals at Coldwell Banker Commercial Mountain West Real Estate have provided property owners with comprehensive commercial real estate services. www.CBCRE.com.
Learn More
Jodie Vaughn
Manager
120 Commercial Street/Reed Opera House
https://www.120Commercial.com
jvaughn@pennbrook.com