Commercial Real Estate Market Shows Signs of Improvement

…The last couple of weeks have seen a slight improvement in transactions, according to Allen Smith, chief executive of Prudential Real Estate Investors.

‘Credible players are appearing and bidding on assets. We’d seen that earlier, but the people who were showing up to bid frankly weren’t terribly credible and often were really not prepared to close. We are now seeing people show up who fall into the institutional category and are clearly ready to close. We’re more prepared to act on that as a seller than we might have been in the past,’ he told the Reuters Global Real Estate Summit in New York…

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