Additional Commercial Property Information
The total value of commercial property in the United States was approximately $11 trillion in 2009, as measured by the CoStar Group and published in the Journal of Real Estate Management.
According to Real Capital Analytics, a New York real estate research firm, more than $160 billion of commercial properties in the United States are now in default, foreclosure, or bankruptcy. In Europe, approximately half of the €960 billion of debt backed by European commercial real estate is expected to require refinancing in the next three years, according to PropertyMall, a UK‑based commercial property news provider.
However, the contribution ploughed into Europe's economy in 2012 can be estimated at around €285 billion according to EPRA, not to mention social benefits of an efficient real estate sector. It is estimated that commercial property is responsible for securing around 4 million jobs across Europe.
Read more about this topic: Commercial Property
Famous quotes containing the words additional, commercial, property and/or information:
“The mere existence of an additional child or children in the family could signify Less. Less time alone with parents. Less attention for hurts and disappointments. Less approval for accomplishments. . . . No wonder children struggle so fiercely to be first or best. No wonder they mobilize all their energy to have more or most. Or better still, all.”
—Adele Faber (20th century)
“It is only by not paying one’s bills that one can hope to live in the memory of the commercial classes.”
—Oscar Wilde (1854–1900)
“Children are potentially free and their life directly embodies nothing save potential freedom. Consequently they are not things and cannot be the property either of their parents or others.”
—Georg Wilhelm Friedrich Hegel (1770–1831)
“If you have any information or evidence regarding the O.J. Simpson case, press 2 now. If you are an expert in fields relating to the O.J. Simpson case and would like to offer your services, press 3 now. If you would like the address where you can send a letter of support to O.J. Simpson, press 1 now. If you are seeking legal representation from the law offices of Robert L. Shapiro, press 4 now.”
—Advertisement. Aired August 8, 1994 by Tom Snyder on TV station CNBC. Chicago Sun Times, p. 11 (July 24, 1994)