NNN Lease Market News
NNN Lease Commercial Real Estate Market Slowly Regaining its feet
The Rochester area's commercial real estate market, which has had all the vitality of an empty strip mall the past two years, is slowly regaining its feet, local brokers and property owners say.
There is a noticeable thaw in banks' and other lenders' attitudes toward credit for both commercial and residential borrowers, and businesses have built up cash reserves to begin addressing their facility needs.
It will take time for the commercial market to return to the aggressively confident days of 2006 or 2007, the industry experts said. But the leasing of retail and industrial space and the sale of commercial properties are picking up.
"People are talking again. And when people talk, positive things happen," said Michael Frame, managing broker of CB Richard Ellis/Rochester, a major global player in the commercial field. CB Richard Ellis has been working with Eastman Kodak Co.
http://www.democratandchronicle.com/
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