Spokane Commercial Real Estate Vacancies
April 24, 2011 Leave a comment
Updated as of Apr 24, 2011. Data source: OfficeSpace.com
As always, each firm’s estimate of vacancies is calculated in their own way and estimates vary between real estate firms.
Kiemle & Haygood estimated an overall downtown office market vacancy rate of 16.5% at end of 2010. They estimate retail vacancies at 5% to 13.2%, depending on location, with the empty store front rich Valley area estimated at 11.3% vacancy. They estimate the overall industrial vacancy rate at 8.3% at end of 2010.
From driving around and seeing empty ghost towns first hand, the K&H numbers appear to under estimate the current vacancies. Similarly, the OfficeSpace numbers likely over estimate the vacancies.