Hank Fries from Westfair Online on Vimeo.
Â
Â
The recession has been particularly cruel to the region”™s commercial real estate market. Vacancy rates are high, rental rates are flat. However battered and bruised, though, the market limps along. We hear from brokers and industry observers that there”™s been an increase in activity in the second quarter, but much of that is due to landlords making concessions to renew leases and retain tenants.
The commercial sector, typically, is one of the last industries to bounce back after a downturn. One of the huge hurdles this time is a lack of financing ”“ when will the lenders start lending again?
The Business Journal checked in with Hank Fries, principal of Henry W. Fries real estate in White Plains, N.Y. Fries, a licensed real estate broker and appraisal specialist, is also president of the New York State Association of Realtors.
