The Real Deal Miami

Commercial property foreclosures expected

December 22, 2008 02:50PM

Foreclosures on commercial properties in South Florida could increase
in 2009, as fewer tenants look for new or additional space and building
owners lack the cash flow to keep up with their mortgages. Businesses
have cut jobs, which creates more office, retail and industrial
vacancies. Retailers are having trouble staying in businesses. But
sales of commercial buildings may increase in 2009 because more
bargains will be available.