May 1, 2008

Sam Zell on commercial real estate

I'm sure there's going to be some casualties, particularly in what I would call ex-urban, the glass-block commodity office building. I don't think there is going to be any casualties in Manhattan, I don't think there's going to be any casualties in any of the first-class office space around the country. The commercial real estate market is going to do terrific no matter what the economy does, short of a depression.

~ Sam Zell, "Zell sees commercial real estate investing surging," Bloomberg, May 1, 2008

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