More downtown Bellingham offices filled up in the fourth quarter of 2024, according to a report prepared by Ryan A. Martin, co-owner and broker at Pacific Continental Realty in Bellingham.
Bellingham’s office sector made a notable rebound last year after a prolonged period of decline, Martin said. The office vacancy rate citywide fell from 4.7% in the fourth quarter of 2023 to 4.1% in last year’s fourth quarter. Also, the average asking rent for office space increased from $18.24 per square foot to $19.69 per square foot.
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