UpClose with Cushman & Wakefield's Tere Blanca

Tere Blanca is senior managing director of Cushman & Wakefield of Florida and recently became chair of the Beacon Council economic development partnership in Miami. A challenging real estate market in South Florida doesn’t faze Blanca, who says enthusiasm and energy are contagious within the industry, and urges professionals to stay focused on the times ahead. She maintains an upbeat attitude while coming face to face with the challenges in the South Florida commercial sectors, which she recently discussed with Associate Editor Crystal Proenza:

Real Estate Florida: As head of C&W’s South Florida operations, you know better than most what this market is going through. Which sectors are currently affected by the economic downturn and the residential crisis, and in what way?

Blanca: I think all commercial sectors have been affected, some more than others. The financial credit markets started impacting investment sales during the latter part of last year, and this credit crisis in the capital markets has continued throughout this year. Until there is more alignment between sellers and buyers in terms of value expectations, and until the credit side of the business opens up, we won’t recover the vibrant activity that we experienced in past years.