Phoenix Area Commercial Real Estate on a reboud

Phx Area Commercial Real Estate Rebounding?- ASU News - Industrial and office space, storefronts and apartment buildings are among the types of properties also affected by the recent real estate plunge. However, a new report from the W. P. Carey School of Business at Arizona State University shows, even though the housing market is still struggling, the commercial market may be starting on a rebound. "While the Phoenix-area residential housing market declined for more than three years, the commercial real estate market drop lasted less than a year and a half," says Professor Karl Guntermann, the Fred E. Taylor Professor of Real Estate, who authored the new report with research associate Adam Nowak. "The commercial market drop was more dramatic, but things may be turning around." Big investors are starting to buy up some of these commercial properties for 50 to 60 cents on the dollar. Long term, the Phoenix market still has the fundamentals for growth, so they see real investment opportunities here.