Commercial Real Estate Market Recovering
August 4, 2013


Steve Cohen said it was brutal being a commercial landlord during the Great Recession.

Cohen, who owns about 800,000 square feet of office space in Palm Beach County and across the state, often took the drastic step of cutting base rental rates by $10 a square foot just to keep a tenant from moving...

"The pendulum is moving back to the middle," Cohen said. "It's a fair game now..."

South Florida broker Tom Capocefalo, who represents tenants for the Studley real estate firm, said he expects the new building owners to increase rents and reduce concessions.

Large, financially sound companies may still have the leverage to resist post-sale management changes, while entrepreneurs and other small business owners will have a tougher time, Capocefalo said.

"The bigger the tenant, the more of an opportunity they will have," he said.

Commercial Real Estate Market Recovering


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