SAN FRANCISCO, CA. --- I remember last year about this time, Grubb & Ellis, and most of the major investment brokerage firms predicted a fairly strong recovery in 2011. I questioned their optimism. Certainly for tier one, institutional grade, cash only deals, it was a robust market. Not so for the investor/operator or smaller equity groups. Glad to see a more sober forecast this year.
"Santa Ana, Calif. -- The struggling housing market, weak job growth and ongoing consumer deleveraging caused the retail market to lag other property sectors in 2011, according to Grubb & Ellis Co.’s 2012 National Real Estate Forecast, which predicts a year of slow but continued growth for all commercial real estate property sectors."
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