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New Year--New Hope?

Big deals for class A office buildings in Boston, Houston and Chicago suddenly raise headlines about the revival of commercial real estate in the New Year.

By Jonathan D. Miller | Updated on January 02, 2011

Big deals for class A office buildings in Boston, Houston and Chicago suddenly raise headlines about the revival of commercial real estate in the New Year. The CMBS markets show signs of life too, another positive sign. The New York Times even has an article about phoenix-like developers, who make new deals despite losing buckets for investors in the crash.

Unmistakably, markets have bottomed and the best prime properties in the leading locations have become targets for prodigious amounts of sidelined capital. That acquisition pattern started in the two top 24-hour gateway markets—first Washington DC in late 2009 and then New York as well as San Francisco, and now extends to less favored but top rated cities in a trickle down effect. No doubt it’s a good time to buy… up to a point.

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