Big Things Happening in the Tri-Cities?

Chris Baer is a principal at Avison Young.

LOS ANGELES—The Tri-Cities markets have been on fire, with more and more investors eyeing opportunities in the market. Now, Avison Young is rolling out an expansion in the market. The brokerage firm has tapped Chris Baer and Brian Hennessey for the office. Baer will serve as principal while Hennessey will serve as SVP. The two are office experts in the Tri-Cities market and say that there are plenty of reasons to be bullish in a market with very strong fundamentals.

“There are really some positive aspects about being in the Tri-Cities market right now. Vacancy rates are decreasing, absorption rates are decreasing, there is virtually no new construction in office or industrial, and rents are going up,” Baer tells GlobeSt.com. “In fact, rents increased 3% last year. We are starting to see a migration of companies coming from the Westside due to pricing. Investment sales are steady and there are still some large blocks of space that can be leased up. We are seeing the market firing on every cylinder. Those are really the main reasons that we are bullish on the marketplace.”