New York, New York (PRWEB) November 01, 2012
Though there is much talk about the “housing crisis” of 2007, it is important for consumers to remember that residential real estate was not the only thing affected by financial collapse; commercial real estate, too, has suffered in the wake of a sluggish economy. In recent months, however, trends have indicated that commercial real estate might be making a comeback—and now, there is evidence to suggest that the recovery will likely continue well into 2013. A report, filed by industry experts and published by The Los Angeles Times, indicates that, in the coming year, the commercial real estate industry will see “modest gains in leasing, rents, and sales prices.” This promising new report has won the attention of real estate acquisition expert David Lichtenstein.
According to the new report, much of the optimism over the commercial real estate sector stems from job creation. In recent months, job creation has experienced a steady but unmistakable rise, which in turn should reduce vacancy rates in office, industrial, and retail sectors.
David Lichtenstein, a long-time real estate professional, has weighed in with his own statement to the press. In his statement, Lichtenstein echoes the optimism of the report itself, noting that the economy as a whole is slowly marching forward, and as a result, commercial real estate stands poised to grow.
“All of the economic factors point to a continued period of recovery for commercial real estate, and while it will likely be slower than many of us might like, it is undeniably good news,” comments David Lichtenstein. “The bottom line is that people are starting to work again, and people are starting to shop again. This may be incremental, but it is still progress, and that will surely play out in the immediate future of the commercial real estate sector.”
Indeed, the article in The Los Angeles Times notes that recovery has been slower than anticipated, but that its effects are undeniable. The prospects of commercial real estate, in 2013, are significantly better than they were at the beginning of 2012, the article states.
The new real estate report notes that apartment buildings, in particular, should continue to experience robust demand in 2013, as the need for apartment dwellings continues to rise in many major markets.
David Lichtenstein is a professional with many years of experience in commercial real estate acquisition and development. He is best known for the formation of The Lightstone Group in 1988; since then, he has continued to establish himself as an investor in real estate, biotechnology, and more.
David Lichtenstein is a professional with years of experience and immense expertise in the fields of real estate acquisition and development. From the formation of The Lightstone Group in 1988, Mr. Lichtenstein has consistently pioneered in the manner in which he has built the company’s portfolio of assets, both in terms of financing and in his view of creating property value. Lichtenstein is also an investor in biotechnology, as well as an advocate on behalf of various medical schools and colleges.