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Gloomy times for commercial real estate

Gloomy times for commercial real estate

According to a report presented for developers, planners and other real estate professionals, shopping centers, office buildings, industrial spaces, hotels and apartments can expect gloomy times from the credit crunch and recession.  The recovery won't be quick but rather may take several years according to the "Emerging Trends in Real Estate" projections from the Urban Land Institute and PricewaterhouseCoopers LLP released at San Francisco's Moscone Center. 

The report also talks about the relative strength of core urban markets.  San Francisco came in second after Washington, D.C., as of its "multifaceted economy, proximity to high-tech Silicon Valley, and history of bouncing back from correction" and connection to global capitals and its "brainpower jobs."

SF Gate-11/6/2009