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Stock impact report

Business looking up inside Bakersfield's office market [Yahoo! Finance]

Cushman & Wakefield Ltd. Common Shares (CWK) 
Last cushman & wakefield ltd. common shares earnings: 2/27 04:09 pm Check Earnings Report
Company Research Source: Yahoo! Finance
The scene would appear to confirm predictions the office market would experience a lasting, post-pandemic downturn as pajama-clad employees put in most if not all their workdays from home, showing up only on Zoom. But that's far from the case, according to local commercial real estate brokers. They say a closer look indicates office vacancies around Bakersfield are limited and that, with no new construction in sight, the market is quickly shifting in favor of landlords. As demonstrated by Clinica Sierra Vista's recent purchase of a 100,000-square-foot building from Chevron, even the downsizing of one of the local economy's biggest historical drivers of the office market — the oil and gas industry — hasn't left gaping vacancies around town. “The office market has really firmed up,” said office broker Jeff Andrew, executive vice president and principal at Cushman & Wakefield in Bakersfield. In his experience, offices of the size most companies need are in limited supply lately. Show less Read more
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