CRE meltdown

[30ashopper]

I've been noticing a lot of shuttered shops lately up here around SD. Was up at the Publix mall today and counted around 12 empty spaces - about the only thing left is the liquor store, publix and a hair salon. How are things looking around your neck of the woods?

 

[kkddbb]

I've been noticing a lot of shuttered shops lately up here around SD. Was up at the Publix mall today and counted around 12 empty spaces - about the only thing left is the liquor store, publix and a hair salon. How are things looking around your neck of the woods?

its happening nationwide. more retail space than people to rent them. its only a small part of the market meltdown

 

[SHELLY]

CRE was like condo investulation on steroids. Folks who thought they were too smart for condo-flippin went the CRE route. Recently read that major retailers have just about cut their variable expenses to the bone, so now they're targeting their fixed expenses--like lease fees. Major retailers are actively renegotiating their store/warehouse leases at the same time the owners of CRE are experiencing increases in mortgage rates (a lot went interest only) while, at the same time, consumers are cutting back on their spending. The outcome won't be pretty for those "wiser" CRE investulators.

When you see all the nail salons and cash advance places close down--it will signal the bottom in CRE.

 

[Kurt]

I've been noticing a lot of shuttered shops lately up here around SD. Was up at the Publix mall today and counted around 12 empty spaces - about the only thing left is the liquor store, publix and a hair salon. How are things looking around your neck of the woods?

What is CRE and SD? Please give us keywords.

 

[Beach Bimmer]

CRE is commercial real estate, i.e. the space that stores lease in shopping centers. SD usually means San Diego to those of us that lived on the West Coast at one time, but in this case it appears to refer to Sandestin.

Indeed, there are lots of vacant commercial spaces, meaning lower lease rates for commercial properties in SoWal. I know a few local business who are negotiatin' better rates as we speak...

 

[wrobert]

CRE is commercial real estate, i.e. the space that stores lease in shopping centers. SD usually means San Diego to those of us that lived on the West Coast at one time, but in this case it appears to refer to Sandestin.

Indeed, there are lots of vacant commercial spaces, meaning lower lease rates for commercial properties in SoWal. I know a few local business who are negotiatin' better rates as we speak...

Rates in sowal must really be getting down there. I just had a client move a major operation from Ft. Walton to Miramar. A lot more room, nicer place, and cheaper rent.