Office space in Bellingham is varied in construction type, cost, location, and amenities. Office space in Bellingham is usually marketed by brokers who specialize in commercial real estate, but is sometimes "marketed" by office building owners with a sign in the window or on Facebook. Here is a summary, some stats, and a way to search office space in Bellingham for free.
SUMMARY:
As with most markets, Bellingham has class A, B, and C office buildings (you can google what each "class" of office property means, but everyone has a different definition and it is difficult to compare a class B building in Bellingham with a class B building in Seattle, New York, or smalltown, USA). Bellingham is mostly comprised of class B & C properties. These properties are scattered throughout the city with a concentration in downtown Bellingham, Fairhaven, Iowa Street, and areas of North Bellingham including Bakerview Rd., Meridian, and Pacific Highway adjacent to I-5.
Additionally, office space in Bellingham that is widely considered "class A" can be found in Barkley Village and Bellwether Way near the Hotel Bellwether. Most national tenants will select one of these locations when opening or expanding office space in Bellingham because the office buildings in these areas resemble the class A properties that are found in larger markets. Both of these markets also have plenty of class B properties, but with rare exception, are the only areas in all of Whatcom County with "class A" office buildings.
While there are many variables that can affect the effective rental rate, the following are loose guidelines of pricing for each class exclusive of NNN costs:
Class A: $18-$25.00 per rentable square foot
Class B: $12-$20.00 per rentable square foot
Class C: $4-$14.00 per rentable square foot
Part 2 of 2 in this blog post focuses on the statistics and action steps involved with office space in Bellingham. We will talk about vacancy rates, total office square feet in Bellingham, and most importantly, how you can search for office space in Bellingham for free!
Click here for part 2 of 2 of this post on office space in Bellingham.
Click here to search for office space in Bellingham.
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