CRE Fire Sale (Patreon)

Been talking about the commercial real estate depression since Covidians.

But this is NUTs

The sale of two Denver office towers for $3.2 million, or $3 per square foot, is insane.

Typically, office space in urban areas like Denver commands much higher rates, often ranging from $200 to $400 per square foot or more, depending on location, condition, and market demand.

This price suggests absolute bleeding out of CRE in USA.

Now to be honest, if I knew about this deal I would have purchased it. I know in 5 years it will be back to $500 or so a sq ft.

FOR THE EUROS

This is about €28 per square meter.