If the national picture on commercial real estate is beginning to look good, I can only imagine what our Northwest Florida is looking like with the tens of thousands moving to our area needing restaurants, retail, and a variety of other commercial space. Oh, do you remember, Fort Walton Beach Metro Area, which includes Crestview, Fort Walton Beach and Destin, was noted as the number one area in the country for restaurant growth.
NEW YORK – July 23, 2010 – U.S. commercial real estate prices rose 3.6 percent in May, according to Moody’s/REAL Commercial Property Price Indices CPPI. This is the second consecutive month of increases – prices were up 1.7 percent in April.
“The positive news of increasing prices over the past two months is tempered by low transaction volumes, forecasts for slowing macroeconomic growth and the rising risk of a double dip recession,” said Moody’s managing director Nick Levidy in a statement.
Prudential Financial executives, speaking at a market outlook discussion, said they were “reluctant optimists” about commercial real estate. “As it cranks up, it’s going to start going pretty quickly in the next three, four years,” he predicted.
Sources: The Wall Street Journal, A.D. Pruitt (07/19/2010) and CNBC.com, Jeff Cox (07/21/2010)
Friday, July 23, 2010
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment