Office tenant rep brokers in San Francisco are routinely asking owners what their loan status is before touring the building, according to Ed Del Beccaro, EVP, San Francisco Bay Area Manager, TRI Commercial/CORFAC International.
It's a reflection of the rising number of commercial foreclosures nationwide, according to recent data from ATTOM.
The firm reported a "steady, significant climb" in commercial foreclosures over the years, from a low of 141 in May 2020 to the current figure of 635 in January 2024.
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