Commercial real estate market softens
Thursday, April 16, 2009
Source: SF Gate
SF Gate reports: Another wave of real estate defaults is rapidly gathering strength - this time in the office sector.
In most cases, tenants will play the market woes to their advantage, haggling for reduced rents.
In February alone, $5.7 billion in U.S. commercial real estate assets were subject to default, foreclosure or bankruptcy, according to New York research firm Real Capital Analytics. Meanwhile, property is tumbling onto the market as loans coming due and other factors pressure landlords to unload their holdings. But with few eager buyers, the ratio of offerings to sales is "rising off the charts," it said.
View the full article on SF Gate: Commercial real estate market softens
Posted by: Nina Turner