Commercial Real Estate Prices are declining faster than expected

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Submitted by Sandiagon on November 19, 2009 - 6:54pm

In Q3, overall sales in San Diego decreased 81% compared to the prior year. Over the last 12 months, the price per square foot for office property is down 27%, multifamily is down 14%, industrial is down 25% and retail is down 35%.

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We've seen appraisals on
Submitted by evolusd on November 20, 2009 - 9:04am.

We've seen appraisals on office product in downtown LA come down 40-50% since 2007. Triple-threat of increasing vacancy and cap rates while rents are declining.