Commercial real estate could bottom in Q2

Despite a recent report from the Congressional Oversight Panel, which said 2011 will usher in an era of commercial real estate loan failures, Walt Rakowich, CEO of industrial real estate owner ProLogis, told CNBC that he expects the U.S. commercial real estate market to bottom in the second quarter this year. Rakowich said he feels good about the market in part because of the stabilizing of inventory. “There is actually cautious optimism in the market,” Rakowich said. “There has been a complete lack of new supply because of the credit crunch.”