Birmingham Economic Forecast: Commercial Real Estate (BizJournals)
Nonexistent credit for companies and mounting job losses will make 2009 a tough year for the commercial real estate industry, experts say.

Tower REIT revalues 3 properties (Business Times (Malaysia))
TOWER Real Estate Investment Trust has revalued three properties under its stable namely Menara HLA, HP Towers and Menara ING. The revaluation exercise conducted by GLM REIT Management Sdn Bhd, manager of Tower REIT, was to ascertain the current market values of the three buildings.

U.S. commercial property in a downward spiral (International Herald Tribune)
With job cuts rampant and businesses retrenching, more empty office space is expected from New York to Chicago to Los Angeles in the coming year.

Former ND workers comp exec asks for acquittal (Fargo Forum)
BISMARCK, N.D. - An attorney for former North Dakota workers compensation director Sandy Blunt wants a judge to throw out a felony conviction against him. Advertisement: SERVPRO of Fargo Moorhead Fire & Water - Cleanup & Restoration. 24 Hour Emergency Service! SERVPRO® of Fargo specializes in the cleanup and restoration of residential and commercial property after a fire, smoke, or ...

More empty office space bodes poorly for banks (Pioneer Press)
Vacancy rates in office buildings exceed 10 percent in virtually every major city in the country and are rising rapidly, a sign of economic distress that could lead to yet another wave of problems for troubled lenders.

Hot property in East Milton (Pensacola News Journal)
Information tech company wants space in county's industrial park.

Office Demand Is Down, and So Are the Deals (New York Times)
By most accounts, the commercial property market reached its pinnacle in early 2007 with the Blackstone Group ’s acquisition of Equity Office Properties Trust and its prized cache of more than 500 office buildings.

ProLogis to Sell China Operations, Interest in Japan Funds to GIC for $1.3B (Commercial Property News)
Looking for ways to quickly cut debt and strengthen its balance sheet, industrial REIT giant ProLogis said it was selling its China operations and a 20 percent interest in its Japan property funds to GIC Real Estate for $1.3 billion.

REITs: Worst. Year. Ever. (The New York Observer)
From the Journal on REITs' 2008 : "As their worst year on record finally ends, real-estate investment trusts are bracing for a Darwinian 2009. ... During 2008, investors treated almost all REITs with a heavy dose of skepticism. Of the 114 stocks tracked by the Dow Jones Equity All REIT index, only four had positive returns. The biggest winner: Pittsburgh & West Virginia Railroad , a tiny ...

Commercial Real Estate Market Cools (KITV Honolulu)
In the new year, many are predicting tougher times for commercial real estate.