Office Building Owners Feeling the Pinch

Your building owner and manager customers may soon be suffering, according to The Wall Street Journal’s “Property Report.” The paper recently reported, “For many owners of office buildings with high vacancies, the pain is only now beginning. Despite signs that the overall economy is recovering, rents are falling in practically every market in the country. Landlords of apartment buildings were the first to get hurt by the flagging economy, but office-building owners are beginning to catch up on the suffering scale.” In this year’s first quarter, the delinquency rate in office loans tracked by Standard & Poor’s was 0.94%, nearly double the 0.49% rate of last year’s fourth quarter.

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