Zuckerman upbeat about CRE in major cities

Mort Zuckerman, chairman and CEO of Boston Properties, sat down with CNBC today to discuss his outlook on commercial real estate and whether the national recovery is on its way. While he was somewhat pessimistic about the industry as a whole, he said that there are some pockets of the country that are moving toward stabilization. “The industry in general is in a fairly weakened condition,” Zuckerman said. “In the major cities the commercial real estate is doing reasonably well… in the minor cities they’re having a lot more difficulty.”