Local broker helps explain why Bellingham restaurants are closing. What to know
A wave of restaurant closures in Bellingham and Whatcom County has prompted a local commercial real estate broker to examine what’s driving the trend. Rising costs, falling foot traffic and shifting local economic conditions are squeezing small-business owners from multiple directions. FULL STORY: Why are so many Bellingham restaurants closing? What one local broker has to say Here are key takeaways: Bellingham lost six restaurants in September while only one new restaurant opened in Whatcom County, according to previous reporting by The Bellingham Herald. Ryan A. Martin, co-owner and broker at Pacific Continental Realty, pointed to declining enrollment at Western Washington University, falling cross-border traffic from Canada and higher downtown office vacancies as pressures making restaurants harder to sustain. Bellingham’s minimum wage rose to $19.13 per hour — $2 above the statewide minimum — adding to financial pressure alongside higher costs for food, fuel, utilities, insurance, property taxes and leases. Downtown Bellingham office vacancies climbed from 4.8% to 8.3% in the third quarter, reducing the number of workers supporting restaurants during lunch and business hours, Martin said. Martin said raising menu prices to offset costs can backfire by reducing visit frequency, and he recommends continued monitoring to determine whether closures
