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BT Commercial Maintains Positive Outlook

SAN JOSE, CA-According to BT Commercial's latest report on the Bay Area commercial real estate market, this year may demonstrate historical levels of positive annual net absorption, fueling a slow, but steady recovery.

By Michelle Savage | Updated on March 13, 2003

SAN JOSE, CA-According to BT Commercial Real Estate, the outlook in 2003 for the Bay Area’s commercial real estate market is a year that the markets should find the bottom and experience a slow but steady recovery.

BT Commercial recently released its annual Northern California Regional Overview, which summarizes market trends and forecasts in the Bay Area’s office, R&D, warehouse, industrial, retail and investment markets.

According to BT Commercial CEO Mike Kamm, “A number of factors have contributed to the depressed state of the Bay Area’s markets in the last two years. The stock market’s steep decline, weak demand for American exports, overcapacity in the telecom and internet infrastructure sectors, the events of Sept>11, corporate accounting fraud, threats of terrorist attacks, and potential conflicts in North Korea and Iraq all led to weak business demand.”

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