GlobeSt.com SPECIAL: Fewer Deals Expected to Close in Fourth Quarter

ORLANDO-Fourth-quarter investments in commercial real estate product isn’t going to set a record for closed-deal volume but instead may wind up dipping to one of the lowest transaction levels in years across the country, brokers and analysts tell GlobeSt.com.

The reason: Even though per-sf prices are falling in several categories, owners of trophy and steady-producing properties are holding firm on asked prices, waiting and watching to see how the economy turns over the next 90 days.

In Orlando for the first nine months of the year, for example, $77 million worth of deals were done at an average price of $85 per sf compared to $215 million worth of transactions averaging $119 per sf in all of 2000, according to CB Richard Ellis Inc.