Recovery Signs for Commercial Real Estate?
Some commercial real estate business is stirring again. The deals seem to be starting small, but never-the-less they are happening.
"Until a couple of transactions settled, you didn’t have a floor in the market," says Jeff Pacy, a broker with Preston Partners in Lutherville, MD.
According to Pacy and other commercial real estate insiders outside of Baltimore, they are seeing a "sudden burst of business." For commercial property under $10M, the pricing now seems to be right. Institutional buyers are also treading softly back into commercial property from the sidelines.
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