The Real Deal Miami

Commercial landlord woes hitting tenants

May 04, 2009 02:43PM

West Palm Beach may be among the epicenters of commercial real estate defaults in Palm Beach County, if the experience of the tenants of the Comeau Building is any guide. The building lost water when the landlord didn’t pay the bill — a power outage later occurred for the same reason. Lender Bank of America in March filed a $13 million foreclosure action against Chicago-based NCP Holdings, one of about a dozen nonresidential foreclosures of the last year. About 5,000 residential homes are also in foreclosure in the county.