Is Commercial Real Estate Still Active in Your Market?

[Bradley G Fagg]

Hey BiggerPockets community!

I transitioned to being a commercial agent, and in hindsight, it seems I chose quite the challenging year to go all in on this venture. With current market conditions, there's a palpable sense of a potential downturn or collapse on the horizon.

How's the commercial real estate landscape in your area? Are transactions still occurring or has there been a noticeable slowdown? Would love to get some perspectives from different markets.

Thanks in advance for sharing your insights!

[Danny Simard]

Quote from @Bradley G Fagg:

Quote from @Danny Simard:

What asset class are you working, @Bradley G Fagg? Here in Southern California, trophy properties are still doing well and still trading, though volume is down here like it's down everywhere. 

I'm in commercial office space in Utah and everyone I call isn't interested in selling at a loss. They seem to think there value is down so not the time to sell. I feel a lot of office space here in Utah is not being utilized fully is an other reason. It also seems deals keep falling through due to banks asking for more money down. Is this a Utah only thing? 

Definitely not unique to Utah. At least here in Southern California, the story is exactly the same (for most assets). For Landlords who don't have to sell, they're waiting out the storm, so to say. This is especially true for properties without debt.