Office property sales are showing signs of improvement, increasing 122 percent in the third quarter as compared to the same time last year, according to this National Real Estate Investor article that cites a new Mortgage Bankers Association (MBA) report.
South Florida seems to be in line with this trend, as the South Florida Business Journal recently reported that the area has seen a number of commercial real estate sales over the last few months, including in the office sector.
Reporting on the U.S. as a whole, NREI says,
b The pace of commercial mortgage originations, including multifamily, picked up during the third quarter. Third quarter 2010 originations were 32% higher than during the same period in 2009, and 15% higher than during the second quarter of 2010.b
As with most commercial real estate reports these days, MBAb s assessment warns that these third quarter sales remain well below sales from before the economic downturn.
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Image: Mark Freerks for South Florida Business Journal
Tags: commercial real estate, Morris Southeast Group, national, office property, office sector, sales, South Florida, trends
