Property Name: The Reed and 120 Commercial Street Building
Location: 189 Liberty St NE, - Downtown Salem, OR
Description: The Reed was Built in 1870 by Cyrus Adams Reed. In its early days, the Reed was known as the Reed Opera House and was a popular location for theatre, music, and community events. The building has hosted a number of famous guests, such as Mark Twain, Susan B. Anthony and President Rutherford B. Hayes. The 42,000sf building now hosts, over 40 tenants including shops, restaurants, creative offices, a ballroom, theatre, and business meeting facilities,
The 120 Commercial Street Building is 15,000sf and includes a desirable 40 space surface parking lot. Cumberland recently completed a complete renovation converting the building from an underutilized single tenant restaurant space to a mixed use multi-tenant class A building.
Both buildings along with the parking lot were purchased in one transaction by Cumberland Holdings and have recently received awards from the Salem Historical Society for the recent renovation
Acquisition Date: Feb. 26, 2018 – Renovated 2020/21