QUOTE Commercial real estate prices in the United States are currently 38.9 percent below their peak in October 2007, but they have come back 8.6 percent from their October 2009 low. Prices are down 6.3 percent over the past year and down 33 percent over the past two years.
“We expect commercial real estate prices to remain choppy in the coming months,” a Moody’s analyst, Nick Levidy, said in a note to investors on Monday. “The positive news of increasing prices over the past two months is tempered by low transaction volumes, forecasts for slowing macroeconomic growth and the rising risk of a double-dip recession.”
– Cyrus Sanati
PBY would be stupid to sell their real estate at these suppressed prices!
"It hit me this weekend that the reason we may have had insider buying is that we may soon see another large real estate deal. PBY still owns 222+/- locations, corporate offices and I believe all warehouses. According to Business Week 6-07-10 issue, commercial real estate prices are up 20% from the trough. Many thought commercial real estate would be the second shoe to drop and it never did. Regardless, this is good news for PBY either now or later as the unrealized gain from real estate is somewhere north of $750 million......DaninFW"