Posted by Donald Teel – Senior Associate, Arizona Commercial
Prescott, Arizona commercial real estate is currently mirroring the national commercial real estate trend lines.
Vacancies are continuing to increase in just about every property type, except medical space and the separation between Owner asking price and buyer/tenant offer price is beginning to narrow in order for investors to attempt to satisfy their cash flow requirements.
As Owners approach the refinancing realities, nothing will be more important than occupancy and cash flow, even if or, I might say, even though, the rents are not producing anticipated NOI to support CAPs and market values.
I’ll be covering some of the lending challenges in CommercialWebPage.com in the future. So, please subscribe.
Here are a few snapshots from the “Real Estate Investment Quarterly Highlights, Second Quarter 2009” report published by TIAA-CREF asset management:
ALL PROPERTIES
INDUSTRIAL
APARTMENTS
RETAIL
OFFICE SPACE
GET THE FULL TIAA-CREF asset management REPORT HERE
Donald Teel is Senior Associate with Arizona Commercial a central and northern Arizona commercial brokerage firm. Need more information call 1-877-777-9100 or, if you prefer, you may email Donald Teel
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