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Investment Sales Drop-off Of 14% This Year

DENVER-Sales of office, retail and industrial properties that sold for at least $1 million will hit $1.05 billion this year, the worst since $885 million in 1996, says Cushman & Wakefield broker Patrick Deveraux.

By John Rebchook | Updated on December 18, 2001

DENVER-This will likely be the worst year in five years for the sale of commercial real estate in the metro area, says Patrick Deveraux, a broker with Cushman & Wakefield. Deveraux projects $1.05 billion in commercial real estate sales this year, about a 14% drop from the $1.216 billion sold last year.

Sales include office, retail and industrial properties that sold for at least $1 million.

This year will likely be the lowest year for sales since 1996, when only $885 million in properties, sold, he says.

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