Birmingham: 'Phantom Space' Grows in Area CRE Market
Local commercial real estate brokers are gearing up for more activity in the sublease market, as unemployment continues to rise and economic conditions remain stagnant. Full Story

San Antonio: Retail Market Still Marked by a Foggy Outlook Ahead
Between a lack of shoppers and a lack of capital, many retail property owners are finding themselves in a precarious situation when it comes to the future. Full Story

New Mexico: Despite TARP, Construction Bumpy
A year after the banking crisis started, New Mexico real estate developers say it’s tougher now to obtain construction financing than at the height of the crisis. Full Story

Phoenix: Opportunity Corridor Knocked by Recession
Four years ago, Phoenix Mayor Phil Gordon announced he wanted to rehabilitate run-down areas along the 12-mile stretch from the Arizona Capitol through downtown Phoenix to Arizona State University in Tempe. Dubbed the Opportunity Corridor, it was to be filled with new office, residential, biomedical and industrial developments. Today, inopportune times have stalled those plans. Full Story

Las Vegas: New Construction Slows
Some casino companies have scaled back construction plans in Las Vegas and are instead focusing on reducing debt and spending. The approach at MGM Mirage, for example, is to attract customers to existing properties. Some casino executives do not expect to start construction on any new projects for at least a decade. Full Story

Oakland: Office Leasing Slow to Recover
Oakland’s office market hasn’t taken the colossal hits San Francisco’s has, but filling up brand-new Class A space has proven a major challenge. Full Story

Hawaii: Big Island Commercial Vacancies Rise, Rents Fall
The recession’s effect on Big Island tourism has rippled through the island’s commercial real estate market over the past year, pushing office vacancy rates up and retail asking rents down. Full Story

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