Foreclosure Supply Vs. Demand

It doesn’t make sense to commercial real estate investors that they aren’t seeing a steady stream of foreclosed assets for sale. So what’s the deal, they ask a guy like John Bell, managing director of DTZ Rockwood in Miami.

“Investors were expecting a flood of distressed real estate to hit the market, but this has not materialized,” says Bell, who recently issued a special report on the subject. Instead, he explains, lenders are employing the “extend and pretend” method, extending maturing loans for a year or two hoping for a market rebound.

Not Taking Summer Off

Two executives with Colliers Abood Wood-Fay in Miami are giving back to the community. John Crotty hosts a basketball camp, while Steve Wasserman takes a group of youngsters to the nation’s capital.

Crotty, senior vice president and partner of Colliers Abood Wood-Fay who spent 11 years playing in the NBA, hosts his annual basketball camp in Coral Gables where children learn the fundamentals of the game. A standout at the University of Virginia, Crotty stays involved in hoops as an analyst on Miami Heat radio broadcasts.

No New Ballparks for a While

Maybe it’s a product of the bad economy, but any plans that you might have seen for a shiny new baseball stadium in your city are being put on hold. One has been pushed back a year, while the other may be on hold indefinitely.

The Miami Herald reports Wednesday that the Florida Marlins have pushed the opening of their 37,000-seat retractable roof stadium, on the old Orange Bowl site, back to 2012. Instead of economics, they blame a recent lawsuit by Miami auto dealer Norman Braman, who challenged the financing of the $515-million project but exhausted all arguments in court.

Welcome to the Grove!

Welcome to Commercial Grove, the latest blog by GlobeSt.com offering information and insights on all aspects of commercial real estate in Florida. (We’ll try not to veer too far from that primary mission, as blogs tend to do.)

Why Florida, you may ask? The Sunshine State is one of the nation’s fastest growing and just about every company involved in CRE is already operating here or looking to get in. The same is true for our company: Incisive Media launched Real Estate Florida magazine last year, and earlier this year GlobeSt.com established a Florida page.