Commonweal Development Releases Area Commercial Real Estate Report


Posted: March 1, 2019

Local developer Commonweal Development has released its annual report of the commercial real estate market in Eau Claire, Altoona, and Lake Hallie for 2018. The report relies on public records, government officials, property owners and managers, and real estate brokers to prepare a market analysis for retail, office, and industrial properties and vacancy rates in the previous year. 

Total retail, office, and industrial space all increased in 2018 from the previous year's report. The vacancy rate for retail space, at 11.66%, represents a decline from 2017 with major new retail centers opening in 2018 including Mills Fleet Farm, Hobby Lobby, HomeGoods, and Gander Outdoors. Office and industrial unit vacancy rates increased somewhat (increasing 0.52% and 0.38%, respectively). However, Eau Claire's industrial vacancy of 2.23% is still well below the total U.S. vacancy rate of 4.9% (as of 2018 Q3).

The full report is attached and can also be accessed at Commonweal's website.
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