BELLINGHAM, Wash. – Bellingham’s commercial real estate market stayed healthy during the 3rd quarter of 2021.
Ryan Martin of Pacific Continental Realty says rents are up and vacancies are down slightly over all.
He says downtown bar and restaurant space is a bright spot.
“There’s a lot of demand. We’ve got a couple a spaces right now that are vacant,” says Martin. “There’s a lot of people that have some new business concepts that are excited to bring them to downtown. It’s starting to pick up a little steam here after the COVID hangover.”
He says industrial space remains tight.
Bellis Fair Mall continues to struggle without Canadian shoppers, but it did see a small drop in its vacancy rate with a couple of new additions.
Martin says another good sign for the mall is that it’s kept its large anchor stores.