"Negative Absorbtion": Good for Band Name, Bad for DFW Commercial Real Estate Biz
GlobeSt.com's Amy Wolff Sorter asks Mark Fewin, senior managing director at CB Richard Ellis, and Matt Heidelbaugh, senior director with Cushman & Wakefield of Texas, for their takes on the Dallas-Fort Worth commercial real estate market, and neither like what they see in the second quarter: an enormous jump in vacancy rates. Which, given what's left of the economy, is to be expected: "What we're seeing is something that's typical in every recession-oriented market," Fewin says.
Both say the good news is, North Texas is doing better than most regions, all things considered, but Heidelbaugh is far from optimistic: "There are too many buildings out there that will go back to lenders, too much space on the market and too many people being laid off. There are still some tough fundamentals out there."
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