Bakersfield’s industrial building market is still in recovery…and conditions are improving. But it is still tough-going. Oilfield service demand is strong, and some wholesale distribution has even shown up (see Caterpillar). Overall, our vacancy rate is about the same. Total Building Market This table shows our Total Market. Sales activity surged a little this quarter over 3Q10, [...]
Time to tally up Bakersfield’s industrial building absorption for 2Q11. Overall, we’ve picked up the pace in terms of overall absorption, (+12% in the first half of 2011 compared with the first half of 2010), but it grew by a whopping 76% in the leasing market. This obviously means the sale market is down, and [...]
Time to tally up Bakersfield’s industrial building absorption for 1Q11. We’ve experienced a noticeable rebound in demand, beginning in the second half of 4Q09, resulting in significant closings in4Q10, which continues into 2011. Values are now beginning to rebound as well, although both demand and price appreciation is spotty, no widespread. Let’s take a look. [...]
Since launching this blog in mid-August, people have told me they would value information about our local industrial real estate market. Because I work to take care of our customers, I’ll offer quarterly updates that compare the basics of our local market with the same quarters of the previous two years. Today’s report is about Bakersfield’s Industrial [...]
