Earlier this week, we discussed a report by Grubbs & Ellis that provided a “forecast” of South Florida’s commercial real estate market. According to the report, in 2010 landlords can expect to see an increase in the number of vacancies in Broward County’s office sector as more companies downsize, end their leases and/or relocate to other locations.
You can read the post here.
Today, I want to share an article I found that reports on a study released by Real Capital Analytics earlier this week, which assesses the value of the troubled commercial real estate throughout South Florida.
According to the study, South Florida has approximately $12B in troubled commercial properties, and more than $1.5B of those are in Broward County alone (when you consider apartments, retail stores, hotels and other developments).
In Broward, Real Capital Analytics found $650 million in apartments, $409 million in development projects, $377 million in retail and $165 million in hotels.
[...] your search for commercial foreclosures, you are bound to come across all kinds of deals and low prices. Despite the need for improvement, [...]