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Commercial Real Estate Making Slow Comeback
The Valley’s commercial real estate market is bouncing back, but slowly, according to a new report from ASU.
Mark Stapp of the W.P. Carey School of Business says while there have been positive signs, he thinks any recovery is going to take a while.
“We’re not gonna see a broad, across the market, across the metropolitan area recovery, until we see considerably stronger recovery in the underlying jobs and financial markets," Stapp said.
He says there is too much uncertainty for people, and issues remain with job creation, and with the quality of the jobs that are being created. He says while some aspects of the market have been doing well, others continue to struggle.