Q4 2017 Bakersfield Office Market Report
Author: Office Market Team
Date Published: 05/07/2018
Similar to other oil dominated economies, Bakersfield's office market has struggled since 2014 due to the weakened energy market. This trend is changing as oil prices begin to increase and stabilize, and in fact, are hovering around $65 per barrel as of the writing of this report. Oil company capital projects spending is at the highest levels since 2014. And, we believe the worst of the oil company downsizing and staff reductions are behind us for this cycle.