It’s very analagous to what happened with the residential market. Money was cheap, growth was rapid, and we built a lot more product than we needed.
– Mark Friedman, a prominent Sacramento commercial developer
Good article on the coming commercial property bust in Sacramento, and nation-wide: “New meltdown looms as Sacramento-area commercial vacancy rate rises”, The Sacramento Bee, September 14, A1.
Check out that 42% Class A Office vacancy rate out here in South Placer County! Yikes!
“Sacramento Office Vacancy Rate Surges Over 20%”, Top Gun FP, July 23, 2009
“Financial Firms Anxious To Sublet Office Space”, Top Gun FP, July 1, 2009
“No Market For Commercial Mortgage Backed Securities”, Top Gun FP, May 28, 2009
“WSJ: Construction Loans Could Be Next Big Headache”, Top Gun FP, July 2, 2008
“Commercial Real Estate Is Next”, Top Gun FP, March 3, 2008
“Commercial Real Estate Is Cracking”, Top Gun FP, July 19, 2007