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…
vacancies
Chipping Away At Vacancies
The Albuquerque metro commercial real estate market showed some signs of life in the second quarter as small businesses chipped away at the nearly 2.5 million square feet of empty office space recorded early in the year. Read more >>
Commercial: Improving, Although Credit Remains Issue
Multifamily is the commercial sector faring best right now. It’s™ seeing vacancies shrink and absorption improving, although rental rate gains are modest at best. The other sectors are improving a little, too. Vacancies are still heading in the wrong direction and absorption isn’™t where it could be if financing didn’™t remain so challenging to get. NAR Chief Economist Lawrence Yun thinks credit could start loosening as banks, sitting on lots of cash, feel pressure to start lending again. Yun gave his outlook last week at the NAR Conference & Expo. Access a summary and his slides.
