Across River, Demand for Office Persists

VANCOUVER, WA-Demand for quality class A office space remains high in Clark County and developers are reacting to the market with several worthy projects, finds a new mid-year report and prediction by Eric Fuller & Associates, a Vancouver, WA-based commercial real estate services company.

Of the 792,000 sf of new office projects announced last year, a record 473,000 sf of new construction opened to the marketplace, according to the report. The fete was nearly matched on the leasing side, however, as approximately 344,000 sf of class A spaces was leased over the last year. Announced future projects total approximately 768,000 sf, says Roselli.

“Of these projects, I expect approximately 271,000 sf to be delivered, with the balance to be built in phases within the multi building developments as new tenants are signed,” predicts Roselli. “Office users needing less than 5,000 square feet will have several choices to meet their office requirements while users of more than 5,000 square feet may find it a challenge to locate available space in some area submarkets.”