The Real Deal Miami

Shopping centers aren’t selling

August 11, 2008 12:06PM

Buyers are waiting for prices to fall before diving into existing
retail properties. A study by the University of Florida’s Kelley A.
Bergstrom Center for Real Estate Studies found that experienced
appraisers, brokers and consultants expect the value of retail
properties in the area to drop, particularly for large retail and less
sharply for neighborhood centers. Professor Wayne Archer says the
downturn in the commercial real estate market will eventually cause the
sellers to drop their high asking prices.