Commercial real estate turnaround not imminent, experts say

January 19th, 2010

The weather may be frosty, but South Florida’s commercial real estate leaders will spend this evening talking about where rays of sunshine may penetrate the gloom.

Robert Cruz, Miami-Dade County’s chief economist, said that many elements of stability need to be in place before there’s a sustainable market recovery, and that may take more of 2010 than optimists would like.

“The financial sector remains weak and many things need to happen before we will see more robust growth,” Cruz said. “But compared to where we have been, I see positive signs internationally — and that means there will be more demand for U.S. products as we move into the future. Housing and construction will be the last segment to recover.”

Read the rest of my story on The Real Deal.

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