Real Estate/Development
Oct. 1, 2013
Speculative building returning amid real estate resurgence
Office developers are beginning once again to build on spec, a move lawyers say is a result of loads of cash in the hands of developers, easing of pre-lease lending terms and continued confidence in the housing market.
Daily Journal Staff Writer
In the run-up to the housing market crash, developers were landing financing even without having tenants lined up. But then credit dried up, activity slowed to a crawl and so-called spec projects - the riskiest of all developments - ground to a halt. Now that property markets are rebounding, even office space developers, whose assets have less dependable rental income streams, are getting back to breaking gr...
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