BEND, OR — Compass Commercial Real Estate Services has released its second quarter 2013 market survey results in the current issue of Compass Points.
The survey reports a fourth consecutive quarter of positive absorption in the office market with Bend’s citywide office vacancy rate dropping below 20% — the first time the vacancy rate has fallen to under 20% since the third quarter of 2010.
In Bend’s retail market, citywide vacancy fell to 7.7% in the second quarter, compared to 8.4% in Q1, adding to the trend of 14 out of 16 quarters of vacancy declines.
The Bend industrial market witnessed a decrease in vacancy for the seventh straight quarter — dropping from 8.99% to 8.2%.
“Since the fourth quarter of 2011, which was the turnaround point to positive absorption, nearly 373,000 square feet of net leasing has taken place — which is more than what is currently available on the market,” said Howard Friedman, CCIM, Compass Commercial partner and editor of Compass Points. “At this rate, we have less than an 18-month supply of available industrial space for lease.”
In addition to providing a survey of Central Oregon’s commercial real estate market in Q2, Compass Points’ cover story offers an in-depth look at Central Oregon’s effort to lure the technology industry to Bend. The issue also features a ‘Nonprofit Spotlight’ on the Humane Society of Central Oregon. The issue also includes Compass Commercial news and listings.
Compass Points provides readers with comprehensive commercial real estate 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 download 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.
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