Commercial Rebounding With Less-Than-$5 Million Sales: Mortgages
This article is for subscribers only.
Broker Connie de la Garza has been trying to sell an empty medical-office building in Harlingen, Texas, for six months. He’s finally getting offers after slashing the asking price by 26 percent to $1.4 million.
“That’s when the real activity happened,” said de la Garza, the owner of Bahnman Realty Inc., who is marketing the property along with Brandon Beeson of Edge Realty Capital Markets. After two bids that were “absolutely ridiculous,” the third “is something that we can work with,” he said.