Thanks to Wal-Mart and nonprofits, the commercial real estate outlook is a little rosier for 2012.
Although office vacancies remained unchanged this year, retail and industrial vacancies dropped some, according to Sierra Commercial Real Estate.
Throughout the city, office vacancies are about 17 percent – but that number trends higher in the northern area of the city [...] [...]
The industrial leasing market continues to suffer nationally and isn’t showing much sign of improvement here, either.
In a just-released report, Grubb & Ellis chief economist Bob Bach said developers nationwide completed 4.3 million square feet of new industrial space in the first quarter, the lowest rate in at least the past decade.
What’s more, there was [...] [...]
Perhaps as a result of historically high foreclosure rates, tight credit or a slow residential resale market, an increasing number of homes – and some commercial buildings – are now being offered for rent.
As a result, property management companies are forming to handle the workload
Dominion alliance ‘hands on’
Dominion Property Management, a partnership between 20-year veteran [...] [...]
Like their counterparts in office brokerage who addressed vacancy and rent rate trends last week, local retail, investment and industrial deal makers also are facing unprecedented economic challenges.
Here’s a brief look at those market segments, offered by those on the front lines of commercial sales and leasing.
Retail: Market contraction
Through the first quarter of 2009 nationally, [...] [...]
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