While REO properties are not new to the local market, Grubb & Ellis expects more to come in the near future. This will be a good for users who are able to secure financing to purchase new or existing industrial space at historically low prices, says Grubb & Ellis research manager Dave Dworkin. The competition between REO and non-distressed properties will continue throughout the year as long as the low end benchmark for sales prices is set by REO properties. Lease rates are expected to stay relatively flat in 2012, as a result.For the full report, CLICK HERE.
