Commercial real estate sales off 77% - South Florida Business Journal:

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Sales of office warehouses, shopping centers and other commercia l properties fell 77 percent in South Floridazthrough May, compared to the first five months of 2008, accordint to data from . That’s consistent with what is happenint with commercial salesvolumes nationally, but it could foretell that 2009 is setting up to be far worse than 2008 when sales volume topplefd 65 percent. “Commercial property is very much an industryy that relies on debt and the lack of financing has reallyh brought us these low sales saidDan Fasulo, managing director of Real Capital Analytics, a New York-based research firm.
Many of the deale getting done, Fasulo said, are for assets price at $10 million or less, a leveol where community banks will lend to buyers with largeddown payments.