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.
