Even as the fundamentals in the residential real estate market improve, the commercial sector is “hobbling to recovery,” said NAR Chief Economist Lawrence Yun at the REALTORS® Conference & Expo’s Commercial Real Estate Forum. Read more…
Industrial Vacancies Suffer a Setback
The closing of Schott Solar tipped the industrial real estate market back to a double-digit vacancy rate — from an expected slight improvement — in the Albuquerque metro area during the third quarter. Read more…
Utilities Offer Energy-Upgrade Financing
Recently, several California investor–owned utilities announced a program that would enable commercial property owners to access low–cost capital to finance property upgrades and repay the investment through their utility bill. Learn more about the on–bill repayment (OBR) program, which uses third–party capital to finance energy efficiency retrofits in commercial properties. Read more…
Metro’s office Vacancy Rate Continues Its Upward Climb
If the office market is a reflection of the Albuquerque metro area’s service-oriented economy, then things are looking rather wan and pale.
The vacancy rate has been stuck at 18 percent or higher for three years running with no end in sight. After a three-year slide, the average asking lease rate appears to have bottomed out at the level of mid-2007. Office construction is at a standstill. Read more…
