Rents are going up for tenants who lease commercial space at the Whidbey Island Fairgrounds.
During a Port of South Whidbey meeting this week, the board of commissioners briefly discussed a 10% increase in rates. Recommended by Executive Director Jim Pivarnik and effective Jan. 1, the hikes will bring the rents closer to market rates.
In addition, as part of a new leasing policy, port staff plan to conduct rate surveys in and around Island County of commercial industrial properties to establish a baseline of what to charge.
Many fairgrounds tenants currently pay under 30 cents per square foot, which Commissioner Jack Ng said is “way below” market value.
“You can’t even get a storage unit on South Whidbey for that,” he said.
In his experience as a business owner, he noted that the going rate is around $1.50 or $2 per square foot.
“I know we try to help the community, but we got to be at least fair enough for other people too,” he said.
The board agreed the 10% increase would be a good start and wouldn’t overwhelm the tenants. Pivarnik said the lease agreements signed by each tenant do not preclude the port from raising rates.
Each tenant has a different rate. OutCast Theater, for example, pays 26 cents per square foot in 2025, for a monthly rent of $675. With the 10% increase, rent will now be $745 for that tenant.
The only rate that remains to be resolved is the one for the Whidbey Island Fair Association. In an email to The Record, Pivarnik said the port will be meeting with the association in January.
