"The stock market, in a way, seems separate and apart" from the commercial real estate markets at the moment, notes Dean Fritchen, senior broker at Arvida Realty Services Commercial Division in suburban Winter Park, FL. "Some of the landlords and sellers are appearing more negotiable," but Fritchen isn't certain if the bearish stock market has anything to do with that phenomenon.

So far, the broker says, four deals he is currently working on are not being affected by the sliding stock performance. "Contrary to past experience, it is interesting that none of the clients seem to be letting the perception of the bearish stock market deter them in their business progress," says Fritchen, a former corporate public affairs director at New York's Madison Square Garden.

His colleague, broker Paul Hoffman, notes: "Most are disappointed and may have a much lower portfolio value but view it as an adjustment and believe our economy remains strong."