Commercial Property Vacancies Edge Upward

V1 Staff |

Vacancy rates for retail and office property in the Eau Claire area rose slightly last year, but remain below national averages, according to a new report from Commonweal Development, a brokerage, development, and property management firm. According to Commonweal, which keeps tabs on figures from Eau Claire, Altoona, Lake Hallie, and the town of Washington, an estimated 6.88 percent of the area’s retail property was vacant in 2013, up from 5.98 percent in 2012. Meanwhile, the vacancy rate for office space ticked upward from 11.1 percent to 11.33 percent. (National averages for retail and office space are 10 percent and 13 percent, respectively.)