Homebuilders’ troubles have been spilling over into commercial real estate

By Mike Sunnucks | Phoenix Business Journal

The housing bust and its slow recovery also are an impediment to a rebound in Phoenix’s commercial real estate market.

Brad Anderson, a veteran office broker with the CBRE Inc. commercial real estate firm, said the housing collapse during the recession prompted major downsizing by homebuilders and contractors. Some of those residential businesses — including mortgage firms — also went out of business during and after the recession.

That has cut into demand for office and other commercial space from homebuilders, Anderson said.

Continued:

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September 5, 2014

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