Commercial property gaining strength in us

The collapse of the U.S. real estate bubble will not be as crushing as many had anticipated, a top executive for real estate services company Jones Lang Lasalle Inc has said...

After investment firm Lehman Brothers fell in September 2008, real estate investors worried there would be a widespread sell-off of debt-laden commercial properties.

While the values of office buildings and other commercial properties have fallen, the anticipated flood of foreclosures and bankruptcies has not occurred -- and probably will not, said James Koster, president of Jones Lang Lasalle's capital markets group.

"We should be in a relatively good position to not have this other shoe drop," Koster told Reuters.

Source: Reuters