Commercial woes continue in 2009

The ongoing scarcity of financing and plunging property values mean
South Florida commercial real estate will remain troubled in the New
Year, experts said. Declines will continue in the first two quarters of
2009, but local brokers expect that within 18 months, sales and
leasing activity will start to pick up. Alan Kleber, senior director
with Cushman & Wakefield in Miami, called current conditions the
most uncertain period he’s seen in the commercial real estate industry
in a 13-year career.