Outlook: Commercial Real Estate Recovery to Begin in 2010
“We are going to see distress continue to mount this year,” Bach said.
Leasing rates for all sectors, including multifamily, retail, industrial and office, will continue to rise at least through the first six months, he said.
Grubb & Ellis’ Chief economist Robert Bach was in Tampa today to speak with Florida Gulf Coast Association of Realtors (FGCAR) and West Coast CCIM’s to discuss the outlook for commercial real estate. (Complete story at the Tampa Bay Business Journal)
Great post.
I moved to Tampa Bay in 1991 from Buffalo, NY. The only thing darker than the year round gray skies was the economic climate. Florida will always be “Florida” and by that attract folks from around the world looking for a better life under our sunny skies. While our incredible growth machine may have slowed, folks seeking a better life will always move to Florida. This will create jobs and opportunities. One of the best lines in the article is, “If I was retiring I’d want to move here”. As someone who moved here from someplace else I see this trend continuing.