What is not seen very often in the headlines is that real estate transactions are still getting done.
(Galleria shopping center, Atlanta, middle left photo)
Conversely, a major Southcoast multi-tenant office building has gone from a 62 percent occupancy 18 months ago, to a 96 percent occupancy today. Another prominent Southcoast office building has recently sold at a record $200 per square foot.
This holds true in the Massachusetts Southcoast market as well. In the fourth quarter of 2008, more than $50 million of commercial real estate traded hands in Bristol County.
As the crisis continues into 2009, leaders in the field recognize that the current real estate cycle provides a unique opportunity to expand their portfolios and create wealth. Despite the predictions of doom and gloom, many believe that the transactions during the next three to five years will prove to be the best buying opportunities that have come along in decades.