Monday, February 28, 2011

Commercial Vacancy Rates to Decline

A stabilization trend is taking place in commercial real estate sectors, but in most markets rent will remain soft except for multifamily rentals, according to the National Association of REALTORS®. Lawrence Yun, NAR chief economist, said a pullback in construction is helping stabilize the market. “Very limited construction of new commercial real estate over the past few years has essentially fixed the supply of available space,” he said. “This means vacancy rates could fall quickly from any increase in demand for commercial space.”
Read more... http://www.realtor.org/RMODaily.nsf/pages/News2011022803?OpenDocument

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