Commercial vacancy rates are flattening out in Bend, which some see as a good sign.
Commercial vacancy rates in Bend showed little change between the second and third quarters.
It’s good news for Bend, which has already been working toward a revitalized downtown core in recent months. And national businesses are still finding Bend attractive because of its growth potential.
Compass broker Darren Powderly, an author of the Compass Points report, said the stabilization is a good sign.
“We’re not seeing the death spiral of dramatic increases in vacancies and lower rental rates … (so) I think we’re getting close to the bottom, if not the bottom,” Powderly said. “We’re not all the way there yet because there are still some ominous factors in play, most noticeably foreclosure activity is picking up … (but) more sellers have come to reality with regard to what it’s going to take to attract a buyer in this market.”
Read the full story at The Bulletin.
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