Commercial Real Estate Finally Recovers But Will The Recovery Last?
By Jason Boone
Over the last two years the Real Estate market has been growing at a rapid pace here with the rest of the country and home prices have appreciated by close to 20% here over the last 12 months but what about the Bend Commercial Real Estate market?
Have the sale of office and retail buildings improved at the same pace as the residential Real Estate in Bend?
In this post we will break down what’s really happening with commercial Real Estate in Bend so you will know for certain if Bend is the next city for you to invest in commercial Real Estate.
Bend Commercial Real Estate 2014
After the recent crash of the Real Estate market there was a surplus of Bend Commercial Real Estate and many industrial agents had a difficult time finding buyers or new tenants but those days are long gone as more companies have moved to Bend in the last 12 months and the surplus has quickly disappeared.
There is now a demand for Commercial Real Estate in Bend including new space for manufacturing, warehouse and distribution.
The problem Bend is dealing with now is that builders are not planning on bringing industrial space to the market any time soon and with lack of industrial space here many economists are concerned that this will ultimately raise rental rates even higher and prompt many companies to relocate out of Bend.
Looking To 2015
Although the lack of Bend Commercial Real Estate looks bleak right now the good news is that there is several build-to-suit and speculative construction projects are slated to begin construction in 2015 and the hope is that those projects will help with bringing more commercial property to the market.
Having more commercial properties built in Bend is a good thing for investors, owners and companies like Amazon.com who are expanding and searching for great locations like Bend to grow their companies.
Learn More about Bend
To learn more about the Bend Commercial Real Estate market or to view homes for sale in the area contact me, Jason Boone, Principal Broker with Principal Broker at Duke Warner Realty | Skjersaa Group by calling me at (541) 383-1426 or by emailing me at Jason@sgbend.com.