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Investor: Commercial Real Estate's Big Concerns Now

Tuesday, 23 Feb 2010 | 12:41 PM ET

Moody’s real commercial property price index showed an uptick of 4.1 percent in December. Is this a sign that commercial real estate market has bottomed? Harvey Green, president and chief executive of Marcus & Millichap Real Estate Investment Services, shared his sector outlook.

Commercial Real Estate Bottoming?
Moody's Commercial Property Index showed an uptick of 4.1 percent in December. Neal Elkin, of Real Estate Analytics, and Harvey Green, of Marcus & Millichap Real Estate Investment Services, share their insight.

“The 4.1 percent December increase in the Moody’s index is a positive…I don’t know if it’s enough to say we’re at the bottom or out yet, but it’s a good indicator that we’re moving in the right direction,” Green told CNBC.

On another positive note, Green said the vacancy rates are starting to slow in all areas, with the exception of retail.

“Retail is still having some issues in the consumer sector,” he explained.

Green also noted that the main concerns in the industry are in the tertiary marketplaces and in some of the smaller and "broken" assets.

  • Watch Green's Previous Appearance on CNBC (Dec. 15, 2009)

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Other Market Views:

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CNBC Data Pages:

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CNBC Slideshows:

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Top Commercial Real Estate Firms:

CB Richard Ellis

Jones Lang Lasalle

Grubb & Ellis Company

Vornado

Investors Real Estate Trust

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Disclosures:

No immediate information was available for Green or his firm.

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Disclaimer

  Price   Change %Change
CBG
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IRET
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JLL
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VORNAD REAL
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