Written by Mark Heschmeyer CoStar Group, September 7, 2011
The effects from late summer’s national and international economic challenges have cast a huge shadow over the commercial real estate market recovery. Nothing postpones a leasing, development or investment decision like the uncertainty surrounding the prospect of a national default, volatile stock markets, a slowdown in retail sales, slouching corporate profit growth, and declining bank lending.
These indicators (while still pointing toward growth) have generally grown progressively weaker since late 2010. And while last year they all pointed to improved employment recovery, that expected level of job growth no longer appears to be the case.
In light of the financial turbulence, CoStar’s economists have joined other market watchers in re-assessing its recovery forecast from this past spring in light of the more sluggish growth occurring now.
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Chris Shaheen is a graduate of Louisiana State University where he obtained a Bachelor of Science in Business Management. Shaheen obtained the Louisiana Real Estate Sales License in 1995 where he began work as a consultant with Saurage Company Inc. and remains today as a specialist in development, land valuation, and financing with Saurage Rotenberg Commercial Real Estate.
Saurage Rotenberg Commercial Real Estate is a member of the Baton Rouge Area Chamber of Commerce (BRAC); the West Baton Rouge Chamber of Commerce; the Baton Rouge Growth Coalition; the Baton Rouge Better Business Bureau; the Louisiana Commercial Data Base (LACDB); and the International Council of Shopping Centers (ICSC). Several agents, on an individual basis, are members of the Society of Industrial and Office Realtors® (SIOR), the Certified Commercial Investment Member Institute (CCIM); the National Association of REALTORS® (NAR); and the Greater Baton Rouge Association of REALTORS® Commercial Investment Division (CID).