February 18th, 2008
Bend Bulletin Takes A Look At The Local Commercial Market
Dave Fisher, the Bulletin's business writer and observer of commercial real estate trends and transactions, took a look at office and industrial numbers in a February article. Follow the link to the full text, some of which quotes Compass president Bruce Kemp along with our POINTS data. Here is an excerpt...
After three straight years of relatively tight vacancies and gradually rising lease rates, vacancies opened up in the fourth quarter of last year, Bruce Kemp, principal broker at Compass Commercial Real Estate, said Thursday. The change was fueled partly by a contraction in housing-related business sectors and partly by the effects of new buildings coming onto the market.
According to Compass’ quarterly survey of 177 buildings, office vacancies rose to 11.2 percent in Bend by the end of the year, nearly double the 6.5 percent of fourth quarter 2006.
Industrial buildings also loosened up in both Bend and Redmond, according to Compass’ survey. Bend’s fourth quarter vacancy rate reached 10.5 percent in industrial space.
(To read the article in full please follow the link below to
the Bend Bulletin website)
http:// www.bendbulletin.com/apps/pbcs.dll/article?AID=/20080224/BIZ0102/802240328
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