Today, posts from around the web offered conflicting views on the state of the commercial real estate market. Some experts worry that cap rates are rising through the roof and that some markets will see massive amounts of foreclosures next year. Others predict the industry might start to recover in a matter of months.
- The CoStar Group ran a story predicting the retail real estate sector will begin to turn around as early as first quarter of 2010.
- In a move that mimics the government's "cash for clunkers" autos program, Toys "R" Us announced that starting Aug. 28 it will accept used cribs and other baby items from customers in exchange for credit to buy products in the same categories. The program is supposed to help eliminate unsafe baby products.
- StreetInsider.com predicts the New York City commercial real estate market will see a massive amount of distressed property sales in 2010.
- Our sister publication, NREI, reports cap rates on commercial properties have now moved past the 10 percent mark.
- Meanwhile, we have been looking at the state of the retail real estate industry in California. Here, we examine how the state's budget woes are wrecking havoc on the plans of local developers. We also talked to some California-based developers and brokers about the market's short-term prognosis.