Conflicting signs in the local commercial real estate market cast a cloud of ambiguity over the sector’s probable performance during the coming year.
“It’s going to be a mixed bag,” said Steve Nostrand, managing director of Colliers International South Florida.
The good news – at least for buyers – includes lower pricing, Mr. Redlich said. “Prices are down easily 20%-30%, and will probably stay that way over the next year. That’s good for companies expanding or coming into the market.”
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There’s no lack of potential buyers. “I talk to people every week who want to buy things,” said William Hardin, director of the Jerome Bain Real Estate Institute at FIU’s College of Business Administration. “The question is, at what price?”
Read: “Commercial real estate good for buyers, but not for sellers,“ an article from MiamiToday.