Local office market improved in 2014, new report says

Bakersfield's office market posted strong results at the end of last year as citywide vacancies fell significantly and rental prices increased, according to a new report by Cushman & Wakefield.
The city's overall vacancy rate declined to 6.5 percent in the last three months of 2014 from 8.1 percent in the same period a year before, the report said. This performance was in line with a downward trend since a peak of about 12 percent in 2009.