Bakersfield’s commercial real estate world is in a bit of a quirky place, say the local leaders who market and develop space here.
The downturn in the oil industry has, once again, sapped the energy from an economy that never really bounced back from the Great Recession of the mid-2000s.
“The commercial real estate market has been somewhat subdued,” said Greg Bynum of Greg Bynum and Associates. “The oil price has been off its previous highs. Local businesses have been downsizing and watching their finances. The market’s stable but it’s not growing a lot at this point.”