Rush Limbaugh

ON AIR NOW

Rush Limbaugh

9:00am - 12:00pm

Contact
Local News


BEND, OR -- Commercial real estate in Central Oregon mirrors the tight housing market in the region, forcing some businesses to take a hard look at their building lease agreements. Pat Kesgard, with Compass Commercial Real Estate in Bend, says tenants looking to move need to prepare for a tough road ahead, "Particularly, when you talk about industrial, or even retail, because there are not a lot of options out there."

 

Bend Commercial Vacancy Rates End 2016 at Near-Record Lows.

 

Kesgard tells KBND News it's difficult but not impossible to find space. "You always have turnover. You have companies that are buying their own buildings, building their own buildings; companies are buying other companies or absorbing other companies, moving in the space they’ve got." And, those who are able to make a move should be ready to pay more. "Rates have gone up, in some cases 100%," says Kesgard. "During the recession, companies were struggling, they go to the landlord; a lot of the landlords capitulated and said, ‘I’ll cut your rent.’ Now, we’re seeing rates $0.60 to $0.80 a square foot, plus the triple net expenses. It’s changing dramatically."

 

He advises tenants to keep track of their agreement so they aren't surprised when it expires. "You have to understand your lease; you have to start paying attention. Call your broker, and start seeing what your options are; talk to your banker, talk to your CPA." He suggests starting the search for a new location as early as six to eight months in advance. 

 

For more suggestions for landlords and tenants in the current commercial real estate climate, click HERE to listen to our full conversation with Pat Kesgard, or visit our Podcast Page

Hide Comments

Help Puerto Rico

Most organizations are asking for cash, rather than supplies, so they can route help to where it’s needed most more quickly. Here are some of the largest groups with campaigns underway:

 

Traffic

 

 

  • Click on the link for the latest conditions on the mountain passes.

 

  • Intersection of NW Broadway Street and NW Delaware for waterline replacement project, road closures with detours clearly marked for thru traffic, 7 a.m. – 4 p.m. daily with roads opened nightly. Motorists are encouraged to avoid this area and use Bond Street and Wall Street.

 

  • Nels Anderson Road between Nels Anderson Place and Brandis Court, single northbound shoulder closure will be in effect, two-way traffic to be maintained. Project completion expected December 2017.