Commercial real estate vacancies increase
Tenants vacated more office and retail space in Bend than they rented overall during the second quarter, ending a monthslong trend in which brokers leased property faster than it became available, according to a survey by Compass Commercial Real Estate Services.
The vacancy rate for office space, for example, declined steadily for three years, or 12 straight quarters, according to the survey, called Compass Points. But in the second quarter, Bend office vacancies rose to 9.2 percent from 8.9 percent the previous quarter. About 6,600 more square feet of office became available than brokers leased during the period, according to data from the survey released in July.
The Bend Bulletin shares information from our latest issue of Compass Points noting the increase in vacancy in all property types last quarter, but as we reported, it’s no cause for concern. Commercial real estate vacancies increase By Joseph Ditzler / The Bulletin / @josefditzler Published Aug 12, 2015 at 12:01AM Tenants vacated more office and…