Area exec says too soon to reinvest in office market

When it comes to commercial real estate investments, Lee Neibart, Area Property Partners chief executive, said it’s too early to be gung-ho about office space. While multi-family buildings and hotels are good opportunities to pursue with caution, Neibart told the Observer that office investments are still too shaky for his taste. “The office market, as far as we’re concerned, continues to have declining rents and increasing expenses, and we’re still concerned with retail,” Neibart said, adding that those segments of the market “would have to stabilize” before Neibart would consider reinvesting.

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