Proverbial “next shoe” has already dropped for commercial real estate, panelists say

Commercial real estate isn’t waiting for the next shoe to drop, because the crisis is already here, said Diana Olick on a recent CNBC panel. Participants discussed the driving forces behind the commercial fallout, including a lack of available credit, rising delinquencies and vacancies, and unemployment. Marisa Manley, president of Commercial Tenants Real Estate Representation, said there are many opportunities for tenants amid the gloomy numbers. Olick said the commercial real estate market is going to take at least two to three years to recover, since it is slower moving than residential real estate.