Bank Owned Distressed Properties
In the recent past, even with bank owned distressed properties becoming more and more available, there has still been a shortage of buyers in commercial real estate. The tides are starting to turn, and more and more investors are seeing opportunities to purchase bank owned and distressed properties, and make them cash flow by offering lease rates below average.
Nationally there are more and more institutional buyers that are coming out of the woodworks, as they believe the bottom has hit. Once there are multiple buyers for properties that are priced well, we will see the prices start to rise.
Locally in the St. George Market, if a commercial property is priced well we are starting to see several competing offers. The “low ball” offers are not even being considered because there are more and more investors that understand the true value and potential, and are willing to make more competitive offers in order to seal the deal.
For a list of distressed or bank owned commercial properties in St George Utah, contact Brandon Vandermyde 435-627-5735
