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As the economy around Bend has improved, the office vacancy rate has dropped to only 9 percent. Few spaces are available for tenants that need more than 5,000 square feet.

Enter Crane Shed LLC. Last week, its team submitted to the city of Bend site plans for development of Crane Shed Commons 鈥� a Class A, four-story building featuring 50,000 square feet of flexible office and creative space. Ground is expected to be broken in early 2016, and delivery is anticipated for spring 2017. The $13 million project will be the city’s first new speculative office building of its size in nearly a decade.

TVA Architects designed Crane Shed Commons, and Kirby Nagelhout Construction Co. is the contractor. Froelich Engineers is the structural engineer and HWA Inc. is the civil engineer. Compass Commercial‘s Erich Schultz and Jay Lyons are the leasing agents for the building.

鈥淚t’s an exciting project for the community of Bend given the fact that there haven’t been any new office developments since the economy took a turn for the worst,鈥� Lyons said. 鈥淰acancy rates have dropped to the point where building new office product is justifiable.鈥�

Crane Shed LLC bought the land for Crane Shed Commons during the recession. It is the same team that developed in Bend the six-building Mill Point Business Campus and the Wells Fargo Building in the Old Mill District.

Crane Shed Commons will be built on the site of the former Brooks-Scanlon crane shed building on Southwest Industrial Way. Views will overlook the Old Mill District, the Deschutes River and the Cascades.

The building won’t be taller than 62 feet, 6 inches. Plans call for steel-frame construction with exterior materials such as board-form concrete, stack-bond masonry veneer, an aluminum-curtain wall system and corrugated-metal accent panels.

鈥淚t will be a state-of-the-art building that caters more toward the newer generation in terms of collaborative work space,鈥� Lyons said.