| From Bakersfield.com: Through the first six months of this year, Bakersfield’s industrial space was only 3.9 percent vacant, which was close to last year’s year-end rate of 3.5 percent, according to commercial real estate brokerage NAI Capital. That rate represented a significant improvement over recent years, when industrial occupancy rates reached as high as 7.5 percent in 2003.
The city’s office space vacancies, meanwhile, edged up to 7.29 percent in the first half of the year, according to Grubb & Ellis/ASU & Associates. That’s a bit softer than last year’s 5.94 percent rate, which was somewhat weaker than 2006’s 4.87 percent.Current retail occupancy rates were not available Wednesday. But Vince Roche, a commercial broker at CB Richard Ellis, said Bakersfield’s retail space market has weakened along with the rest of the national economy, even as retail chains without a Kern County presence “continue to look at Bakersfield” for expansion opportunities..... Full Article: Source
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