Not a surprising trend considering the unemployment rate and related decrease in consumer spending.
A recent Costar report found that even during the recession, buildings that have implemented LEED or other sustainable building practices both command a premium in rents and save on costs.
Over the last 12 months, the price per square foot has decreased across all commercial sectors. Office 38% Industrial 21% Multifamily 15% Retail 3%
According to Trepp, the commercial real estate loan tracking firm, some of the highest-priced distressed properties are in Miami.