Commercial Real Estate News

Federal regulators already have shut down one local bank's (Fort Myers Florida) construction loan program for builders, and some question whether officials are cracking down because of fears of a real estate bubble.

Regulators with the Federal Deposit Insurance Corp. in June ordered First Community Bank of Southwest Florida to stop making construction loans to commercial builders, improve loan practices and better manage existing loans. However, the regulators appeared concerned that the company was putting too much money in the hands of too few builders and called for limits. (Source Florida News-Press Oct 2, 2005)

Bentonville, AZ is "flooded with the opening of new, unoccupied space" in the office and retail sectors. (Source The Morning News 1st Q 2005)

With more than 26 million square feet of vacant office space, downtown Chicago is among the weakest markets in the nation.

Conditions are improving in other big cities, but they are likely to get worse in downtown Chicago before they get better. The most pessimistic observers don't see a recovery until 2007. (Source Chicago Business June 27, 2005)

The local Detroit office market - the commercial real estate segment hardest hit by the recession - has overall vacancy rates in the 19 percent to 23 percent range (Source The Oakland Press January 12, 2006)

The northwest Chicago market has 25 million square feet of office space. About 20 percent is available through either lease or sublease. (Source Maywood Herald Jan 18, 2006)