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Tag : Market Research

Compass Points Q2 2020

Compass Points Q2 2020 Market Report

by on 22 July 2020in Compass Points Market Report

Compass Points Q2 2020The Effects of COVID-19 on Commercial Real Estate:

It comes as no surprise COVID-19 has made an impact on the world. The last five months have changed dramatically for tenants and landlords alike. Brokers Howard Friedman, CCIM, Ron Ross, CCIM and Graham Dent, Partner take a look at how each market has been affected and what has stayed the same. Plus, get a sneak peek into the multifamily market.

Bend’s Office Market:

Compass Commercial surveyed 212 office buildings for the second quarter 2020 Bend report. The buildings in the sample totaled 2,658,027 square feet (SF). A negative net absorption of 29,175 SF was recorded during the quarter with a vacancy rate of 5.48%, up from 4.11% in Q1 2020. There is now 145,601 SF available for lease, up from 108,367 SF in Q1. Get the full report for a complete breakdown of the Bend office market.

Bend’s Retail Market:

Compass Commercial surveyed 259 retail buildings totaling nearly 4,519,289 square feet (SF) for the second quarter of 2020. The citywide vacancy rate rose slightly, from 3.01% at the end of Q1 2020 to 3.09% at the end of Q2. There is currently 139,843 SF of retail space available citywide, up from 135,866 SF in Q1. Get the full report for a complete breakdown of the Bend retail market.

Bend and Redmond Industrial Markets:

Compass Commercial surveyed 316 industrial buildings for the second quarter 2020 report, totaling 4,493,791 square feet (SF). The industrial market lost 12,277 SF of net negative absorption in Q2, and the vacancy rate rose from 3.27% in Q1 to 3.80% in Q2 2020. There is now 170,716 SF of industrial space available for lease in Bend, compared to 146,439 SF in Q1.

The Redmond Industrial market gained 10,225 square feet (SF) of positive net absorption in the second quarter of 2020 for a fourth straight gain in quarterly occupancy, with three new leases noted. The vacancy rate rose slightly however, from 1.7% to 2.1%, due to an additional 17,206 SF building on NE 11th Street being added to the survey. Out of Redmond’s industrial sector of 1,654,385 SF total leasable space, there is now just 35,384 SF available for lease.

To view the complete report, sign up to receive our quarterly publication at https://www.compasscommercial.com/POINTS or call (541) 383-2444.

Compass Points is a quarterly publication of Compass Commercial Real Estate Services offering comprehensive surveys of the Central Oregon commercial real estate market. The report provides a detailed look at quarterly vacancy and absorption data in office, retail and industrial product types throughout Bend’s primary submarkets, as well as the Redmond industrial market. Absorption data contained in the report pulls from samples of buildings over 3,000 sq. ft.

Compass Points Q1 2020

Compass Points Q1 2020 Market Report

by on 21 April 2020in Compass Points Market Report

Compass Points Q1 2020Tenants, Landlords & COVID-19:

Covid-19 took the world by complete surprise. Partner and Broker Dan Kemp, CCIM breaks down the effects the virus has on businesses, landlords and tenants in Central Oregon and what you can do to help.

Bend’s Office Market:

Compass Commercial brokers surveyed 210 buildings for the first quarter 2020 office report. The buildings in the sample totaled just over 2.636 million square feet (SF). Positive net absorption of 3,738 was recorded during the quarter, but the vacancy rate rose slightly, due to the addition of another office building to the survey, moving from 4.02% in Q4 ’2019 to 4.11% in Q1 ‘20. There is now 108,367 SF available for lease, up from 105,218 SF in Q4.

Bend’s Retail Market:

Compass Commercial surveyed 257 retail buildings totaling over 4.5 million square feet (SF) for the first quarter of 2020. The citywide vacancy rate rose slightly, after three quarters of gain, from 2.9% at the end of Q4 ‘19 to 3.01% at the end of Q1 ’20. There is currently 135,866 SF of retail space available city-wide, up from 130,743 SF in Q4.

Bend and Redmond Industrial Markets:

Compass Commercial surveyed 315 buildings for the first quarter 2020 industrial report, totaling 4,479,864 square feet (SF). The industrial market took a big hit in the quarter, losing 77,176 SF of net negative absorption in Q1, and the vacancy rate rose from 1.55% in Q4 to 3.27% in Q1, the first time the vacancy rate has been above 3% since Q4 of 2017. There is now 146,439 SF of industrial space available for lease in Bend, compared to 69,263 SF in Q4.

The Redmond industrial market gained 2,000 square feet (SF) of positive net absorption in the first quarter of 2020 for a third straight gain in quarterly occupancy, with just one new lease noted. The vacancy rate fell as a result, from 1.9% to just 1.7%. Out of Redmond’s industrial sector of 1,637,179 SF total leasable space, there is now just 28,403 SF available for lease.

To view the complete report, sign up to receive our quarterly publication at https://www.compasscommercial.com/POINTS or call (541) 383-2444.

Compass Points® is a quarterly publication of Compass Commercial Real Estate Services offering comprehensive surveys of the Central Oregon commercial real estate market. The report provides a detailed look at quarterly vacancy and absorption data in office, retail and industrial product types throughout Bend’s primary submarkets, as well as the Redmond industrial market. Absorption data contained in the report pulls from samples of buildings over 3,000 sq. ft.

Compass Points Q4 2019

Compass Points® Q4 2019 Market Report

by on 20 January 2020in Compass Points Market Report

Compass Points Q3 20192019 Summary / 2020 Forecast:

In this issue’s cover article, principal broker and partner Howard Friedman, CCIM reviews the year in commercial real estate and makes predictions for 2020.

Bend’s Office Market:

Compass Commercial surveyed 209 buildings for the fourth quarter 2019 office report. The buildings in the sample totaled just over 2.61 million square feet. Positive net absorption of 11,005 sq. ft. was recorded during the quarter, but the vacancy rate rose slightly, due to the addition of a large office building to the survey, moving from 3.93% in Q3 to 4.02% in Q4.

Bend’s Retail Market:

Compass Commercial surveyed 256 retail buildings totaling 4.5 million square feet for the fourth quarter of 2019. The citywide vacancy rate fell once again for the third quarter in a row, from 3.3% at the end of Q3 2019 to 2.94% at the end of the year.

Bend and Redmond Industrial Markets:

Compass Commercial surveyed 315 buildings for the fourth quarter 2019 industrial report, totaling 4,477,864 square feet. The industrial market gained 791 sq. ft. of net positive absorption in Q4, and the vacancy rate fell slightly from 1.58% in Q3 to 1.55% in Q4. There is now 69,263 sq. ft. of industrial space available for lease in Bend, compared to 70,054 sq. ft. in Q3.

The Redmond Industrial market gained 31,123 square feet of positive net absorption in the fourth quarter of 2019 for a second straight gain in occupancy. The vacancy rate fell as a result, from 3.8% to just 1.9%. Out of Redmond’s industrial sector of 1,637,179 sq. ft. total leasable space, there is now just 30,403 sq. ft. available for lease.

To view the complete report, sign up to receive our quarterly publication at https://www.compasscommercial.com/POINTS or call (541) 383-2444.

Compass Points® is a quarterly publication of Compass Commercial Real Estate Services offering comprehensive surveys of the Central Oregon commercial real estate market. The report provides a detailed look at quarterly vacancy and absorption data in office, retail and industrial product types throughout Bend’s primary submarkets, as well as the Redmond industrial market. Absorption data contained in the report pulls from samples of buildings over 3,000 sq. ft.

Bend River Promenade Blog

CCIM Insights Report: Q3 2019

by on 8 November 2019in Press Releases

CCIM (Certified Commercial Investment Member) Institute has released its Q3 report for 2019. In this edition, CCIM tackles the myths associated with online shopping and the effects it has on retail leasing. According to a report by the International Council of Shopping Centers (ICSC), “online and brick-and-mortar retail have a symbiotic relationship.” CCIM Insights provide powerful facts to support predictions made on the future of the industry.

Read the full report “Retail e-Volution: Predictions for 2025”.

Compass Points Q3 2019

Compass Points® Q3 2019 Market Survey

by on 28 October 2019in Compass Points Market Report

Compass Points Q3 2019A Look Into Our Economic Future:

In this issue’s cover article, principal broker and partner Howard Friedman, CCIM discusses the economic future and how it affects the real estate industry.

Bend’s Office Market:

Compass Commercial surveyed 208 buildings for the third quarter 2019 office report. The buildings in the sample totaled just over 2.6 million square feet. Negative net absorption of 23,431 sq. ft. was recorded during the quarter moving the vacancy rate up to 3.9% from 2.98% in Q2. There is now 102,360 sq. ft. available for lease, up from 77,257 sq. ft. in Q2.

Bend’s Retail Market:

Compass Commercial surveyed 256 retail buildings totaling 4,503,899 square feet for the third quarter of 2019. The citywide vacancy rate fell dramatically from 5.39% at the end of Q2 2019 to 3.30% at the end of Q3. This was primarily due to a significant lease signed during the quarter in the north97 submarket.

Bend and Redmond Industrial Markets:

In Bend, we surveyed 314 buildings for the third quarter 2019 industrial report, totaling 4,427,296 square feet. The industrial market gained 34,051 sq. ft. of positive absorption in Q3, and the vacancy rate fell from 2.71% in A2 to just 1.58%. There is now 70,054 sq. ft. of industrial space available in Bend, compared to 119,105 sq. ft. in Q2.

In Redmond, the market gained back some of the losses incurred in the second quarter, with 14,500 sq. ft. of positive net absorption recorded in the third quarter of 2019. The vacancy rate fell from 4.6% to 3.8%. Redmond’s industrial sector now has 1,637,179 sq. ft. of total leasable space, now including owner occupied buildings and buildings under 3,000 sq. ft.

To view the complete report, sign up to receive our quarterly publication at https://www.compasscommercial.com/POINTS or call (541) 383-2444.

Compass Points® is a quarterly publication of Compass Commercial Real Estate Services offering comprehensive surveys of the Central Oregon commercial real estate market. The report provides a detailed look at quarterly vacancy and absorption data in office, retail and industrial product types throughout Bend’s primary submarkets, as well as the Redmond industrial market. Absorption data contained in the report pulls from samples of buildings over 3,000 sq. ft.

KBND Morning News Interviews

KBND: Highway 97 Realignment

by on 11 October 2019in KBND Interviews

Principal broker and partner, Pat Kesgard, CCIM spoke with Paul Hanson, host for the October 7th installment of the KBND Morning News Guest Interview about the Highway 97 railroad alignment. The construction of the new highway will affect many of the businesses currently lining Highway 97 and the Bend Parkway between Empire and Cooley Road.

View a map of the proposed realignment area HERE.

Listen to the full interview HERE.

 

 

 

KBND Morning News Interviews

KBND: Compass Points & ODOT Federal Grant

by on 7 August 2019in KBND Interviews

Principal broker and partner, Pat Kesgard, CCIM speaks with Danise Lee, host for the August 5th installment of the KBND Morning News guest interview. This month’s topic is the Central Oregon CRE Market Research from Compass Points® for Q2 of 2019. Also addressed, was the upcoming Railroad Alignment from the ODOT Federal Grant Money.

Listen to the full interview at the link below.

LISTEN NOW

 

 

 

Compass Points Q2 2019

Compass Points® Q2 2019 Market Survey

by on 25 July 2019in Compass Points Market Report

Compass Points Q2 2019A Primer on Restaurant Buying:

In this issue’s cover article principal broker and former restaurateur Howard Friedman shares tips on what it takes to purchase and operate a successful restaurant.

Bend’s Office Market:

Compass Commercial surveyed 207 buildings for the second quarter 2019 office report. The buildings in the sample totaled just under 2.6 million square feet. Negative net absorption of 2,396 sq. ft. was recorded during the quarter. Despite the negative absorption, the vacancy rate moved down to 2.98% from 3.03% in Q1, due to an additional building added to the survey. There is now 77,257 sq. ft. available for lease, down from 77,902 sq. ft. in Q1.

Bend’s Retail Market:

Compass Commercial surveyed 255 retail buildings totaling 4,492,794 square feet for the second quarter of 2019. The citywide vacancy rate rose significantly, from 2.84% at the end of Q1 2019 to 5.39% at the end of Q2. However, the majority of the vacancy was the direct result of the Shopko on Bend’s north end vacating its 106,216 sq. ft. store in April, due to bankruptcy of the company. In fact, removing that data point, the overall city wide vacancy rate would be just 3.0%, with only a 9,084 sq. ft. negative net number, rather than the 115,300 sq. ft. loss officially reported.

Bend and Redmond Industrial Markets:

In Bend we surveyed 313 buildings for the second quarter 2019 industrial report, totaling 4,392,452 square feet. The industrial market gained 30,018 sq. ft. of net absorption in Q2, and although the vacancy rate rose from 2.37% in Q1 to 2.71% presently, the change was due to two buildings being added to the survey. There is now 119,105 sq. ft. of industrial space available in Bend, compared to 103,104 sq. ft. in Q1.

In Redmond there was dramatic negative absorption in the second quarter, with the vacancy rate rising from 1.4% to 4.6%, due to 42,356 sq. ft. of negative net leasing and the addition of new buildings to the market. Redmond’s industrial sector now has 1,637,179 sq. ft. of total leasable space, not including owner occupied buildings and buildings under 3,000 sq. ft., with 76,026 sq. ft. available for lease in the 86 building industrial market.

To view the complete report, sign up to receive our quarterly publication at https://www.compasscommercial.com/POINTS or call (541) 383-2444.

Compass Points® is a quarterly publication of Compass Commercial Real Estate Services offering comprehensive surveys of the Central Oregon commercial real estate market. The report provides a detailed look at quarterly vacancy and absorption data in office, retail and industrial product types throughout Bend’s primary submarkets, as well as the Redmond industrial market. Absorption data contained in the report pulls from samples of buildings over 3,000 sq. ft.