Although commercial real estate market has been holding its value despite the subprime mortgage crisis in other real estate market news, the value of commercial real estate has taken a downturn in recent days. Over the past five years, the market in commercial real estate news has displayed a feeding frenzy that seemed like it would never end. However, since August, when the subprime mortgage meltdown spawned a tightening of credit that has bled over into the commercial real estate news. It seemed as though overnight, individuals and firms interested in investing in commercial real estate could no longer obtain the credit they needed in order to get leases on new commercial real estate. According to a recent article published on the Boston Globe website, the commercial real estate news says that this market is, "not completely dead, but it's been knocked on its bottom," said Rob Griffin, president of Cushman & Wakefield of Massachusetts Inc., a commercial brokerage. "It's certainly been chaos since August." This commercial real estate news doesn't just affect the Boston, Mass. market, it will certainly translate to other regions, even ones that were formerly hot in commercial real estate news.
