According to conference speakers, the subprime collapse has caused decisionmakers to pause, but "the sky is not falling completely," said Keith Tickell, executive vice president-development for Flagler Development Co. "There are some cracks, underwriting is more difficult now and companies are re-evaluating some of their building starts, but the slowdown is just temporary," said Tickell.
"It's much tougher to close deals that were under contract before the credit crunch," adds Larry Richey, senior managing director of Cushman & Wakefield, Tampa and Orlando.
Others agree. "When you wipe out the condo market, which was a major source of capital for our market, you're going to see some influence [on the rest of the commercial market]," says J. Patrick Duffy, MCR, president of Colliers Arnold, Central Florida. "We're seeing questions being asked about what tenants do for a living. They're not just looking at the leases but at how secure the tenants will be as well."
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