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  3. The commercial real estate market is showing signs of recovery

The commercial real estate market is showing signs of recovery

Posted on Jul 22, 2010

Along the coasts of Boston, Seattle, New York and Los Angeles tiny waves of recovery amidst the commercial real estate market are popping up.  Although the signs are subtle the latest Moody's REAL Commercial Property Index showed a gain of 1.7% during a monthly comparison in April. 

According to David Ridkind, the managing director of George Smith Partners a real estate investment banking firm in Los Angeles, “Most commercial real estate recoveries begin in core markets, usually the two coasts and with activity in core investment properties. This is how this recovery is behaving, after some time, the recovery spreads from there."
 
Lenders are "opening up" for commercial deals and sellers are dropping prices, yet buyers are still waiting for the commercial market to hit rock bottom.  It's the unemployment rate that is keeping the commercial real estate market from blossoming. According to Shari Olefson, real estate attorney in Fort Lauderdale, Broward County, Florida, “Employment is the single best long-term, forward-looking indicator for commercial real estate values." 
 

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