Pac Premier
Giving Guide
You are here:  Home  >  Top Stories  >  Current Article

Commercial foreclosures pile up in Ventura County

By   /   Monday, June 28th, 2010  /   Comments Off on Commercial foreclosures pile up in Ventura County

    Print       Email

As multimillion-dollar foreclosures continue to hit Ventura County, commercial real estate insiders and observers are worried that the pain in the market is a long way from over.

“We have a recovery in place, but it’s a very, very slow and weak recovery,” said Kirk Lesh, the senior real estate economist at California Lutheran University in Thousand Oaks.

Loan delinquency rates for Ventura County’s industrial properties jumped from 1.4 percent in March 2009 to 5.4 percent in March 2010, according to data complied by Daum Commercial Real Estate Services in Camarillo.  For office space, delinquency rates went from 1.3 percent to 4.7 percent.

The full version of this article is only available in the print edition. To view everything the Business Times offers, see this week’s print version or SUBSCRIBE to the print edition for $49.99 today.

    Print       Email

You might also like...

New name, new plan for economic growth at Vandenberg

Read More →