Brian Fratzke, Principal, CCIM wrote an article featured in the current Cascade Business News , reporting on the status of commercial real estate in Central Oregon.
Click the following link to read the full article: Forecast 2019 – Industrial on the Mind
His predictions for 2019 include:
- Demand for commercial space both for lease and for sale will continue into the summer of 2020.
- Lease rates will continue to rise as construction costs increase.
- Existing well designed and constructed buildings with excellent location and access will increase in value as owner/users and investors race to obtain their footprint in Central Oregon.
- Building owners will begin to add in costs for dedicated onsite parking to Tenant’s lease rates.
- Interest rates and municipal fees will continue to rise challenging new construction.
- Oregon State University is working on the Innovation District. This area will offer creative options for companies wishing to operate and test their concepts. Watch as this development unfolds over the next twelve months.
- Opportunity Zones have been identified in many cities in Central Oregon. Investors are waiting on the sidelines ready to acquire property that offers reducing the Buyer’s taxable event and providing incentives for new construction.
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