As I pulled up my Monday morning national journal reports, I noticed that commercial foreclosures in North Texas have increased 30% over last year at this time (highest in the Metroplex since 1994). From the article:
Commercial foreclosure postings in North Texas through August have reached their highest level in 13 years as the downturn in the housing market clouds the broader real estate picture.
So far this year, 806 commercial buildings have been listed for the auction block in the Metroplex, according to Foreclosure Listing Service, an Addison-based firm. This year's total is 30% higher than the 621 postings in the same eight-month period last year.Every commercial property category was hit. Retail foreclosure postings are up 42%, apartments are up 37%, office postings are up 36% and industrial postings are up 24%. Postings are up 26% in the miscellaneous category, which includes uses such as restaurants, car washes and day care centers.