BEND, OR – Compass Commercial Real Estate Services has released its first quarter 2013 market survey results in the current issue of Compass Points.
The survey reports a third consecutive quarter of positive absorption in the office market with the citywide office vacancy rate dropping from 21.5 to 20.7%.
In Bend’s retail market, vacancy rose to 8.4% in the first quarter, compared to 8.0% in Q4, but still well below the 9.0% recorded in the first quarter of 2012.
The industrial market witnessed a decrease in vacancy for the sixth straight quarter dropping to 8.99% — nearing the lowest vacancy since the second quarter of 2007.
“Industrial sales once again dominated the properties that traded hands this quarter,” said Howard Friedman, CCIM, Compass Commercial partner and editor of Compass Points. “The positive absorption for the first quarter was the result of another 24,865 square feet of net leasing.”
In addition to providing a survey of Central Oregon’s commercial real estate market in Q1, Compass Points’ cover story offers a snapshot of recent economic developments in the region. The issue also features a ‘Nonprofit Spotlight’ on Days of Caring, the United Way of Deschutes County’s 17th annual volunteer event. The issue also includes Compass Commercial news and listings.
Compass Points provides comprehensive commercial real-state surveys and analysis of the Central Oregon market from the partners of Compass Commercial. Real estate professionals, investors and business-community members have relied on information published in Compass Points for the past 17 years.
To view an online version or to subscribe to the quarterly publication, visit www.compasscommercial.com and click on the Compass Points icon. Printed copies are available from the Compass Commercial office by calling (541) 383-2444.