A unique office building development, called Cavalon Place, is getting under way in Silverdale at the new Highland Business Park. The business park is made up of five commercial pads and occupies a full block along Myhre Road between Ridgetop and Bucklin Hill Road. The Cavalon Place project is a cooperative effort between the developers Chuck and Joanne Haselwood and Cavalon, LLC, who each own one of the two pads dedicated to the Cavalon Place complex.

What makes Cavalon Place unique, according to Chris Rieland of Pacific Northwest Title, is that the complex will be made up entirely of office condominiums — businesses will purchase, rather than lease, office space from the complex, in exactly the same manner one would purchase a residential condo.

“Economy of scale is the only thing that can allow small to mid-sized businesses to own buildings,” she said.

Businesses that want to purchase buildings in the 1,000 to 5,000 square foot size are often out of luck, particularly in Kitsap County. The Cavalon Place complex will offer space from 1,200 to 15,000 square feet to help satisfy this need, allowing businesses to own their own office space without the challenge of finding a suitable location, the expense of purchasing land, and the aggravation of having to oversee clearing, infrastructure building and construction.

“Benefits of ownership include tax advantages, building equity, property appreciation, customizable space, predictable, stable monthly expenses, and locking in a prime location even if rents spike,” said Rieland.

Cavalon Place’s highly visible location and accessibility are also pluses, and the project includes all the amenities one would expect in superior office space, including energy efficiency considerations, large, convenient parking areas and high speed internet capabilities.

Pacific Northwest Mortgage is involved in the project and will be relocating to Cavalon Place once development is complete. The complex should be move-in ready this fall.

The other three pads in the Highland Business Park remain in the hands of the Haselwoods. Rich Rucker of the Rucker Group, which manages the property for the Haselwoods, reported that a purchase and sale agreement on the north pad, closest to Ridgetop, is fairly close to being finalized. A fourth pad is being reserved for either retail development or for a third Cavalon Place building, depending on the success of the first phase of the project. The final pad, approximately 1.5 acres along Bucklin Hill Road is currently being held for a nice restaurant, although no plans or agreements have been made.

“We’re concentrating on Cavalon Place right now,” said Rucker.

Businesses that are interested in getting more information on space availability and purchasing options at Cavalon Place should contact Joe Michelsen of Windermere Real Estate/West Sound, Inc., at (360) 692-6102. For more information about the Highland Business Park in general, contact Rich Rucker of the Rucker Group at (360) 698-9150.