The commercial building sector continues to be under financial pressure as foreclosures nationwide increased 48% in June compared to June 2023, according to ATTOM, a real estate data analysis firm.
Commercial foreclosures decreased month over month by 14%, but the 647 foreclosures in June reflect a 219% increase compared to the recent low mark of 141 in May 2020. California had the highest number of commercial foreclosures in June, at 214. This was a 10% decrease from May 2024, but a 289% increase from last June.
Texas, New York, New Jersey, and Florida, following California, recorded the highest numbers of commercial foreclosures in June. While these states experienced decreases this quarter, they have exhibited significant fluctuations over the past decade. Each state is showing a continuous overall increase in foreclosures.
Texas had a total of 70 commercial foreclosures in June 2024, a 1% decrease from last month and a 100% increase from a year ago. New York saw an 8% percent decrease from last month and a 21% decrease from last year. New Jersey saw a 35% decrease from last month and a 34% increase from last year. Florida saw a 45% decrease from last month and a 10% increase from last year.
Related Stories
Building Team Awards | Jun 12, 2017
Texas technopark: TechnipFMC John T. Gremp Campus
Silver Award: TechnipFMC’s new campus marks the start of a massive planned community in north Houston.
Office Buildings | Jun 12, 2017
At 11.8 million-sf, LG Science Park is the largest new corporate research campus in the world
The project is currently 75% complete and on schedule to open in 2018.
Building Team Awards | Jun 8, 2017
Raising the bar: Zurich North American Headquarters
Silver Award: Forgoing a typical center-core design, the Zurich North America Headquarters rises 11 stories across three stacked bars.
Office Buildings | Jun 8, 2017
Take a look at the plans for Google’s new 1 million-sf London campus
Heatherwick Studio and BIG are designing the 11-story building.
Building Team Awards | Jun 6, 2017
Nerves of steel: 150 North Riverside
Platinum Award: It took guts for a developer and its Building Team to take on a site others had shunned for most of a century.
![Strong brew: Heineken HQ spurs innovation through interaction [slideshow]](/sites/default/files/styles/list_big/public/OPENER%20Screen%20Shot%202017-06-02%20at%2011.33.34%20AM.png?itok=VNxuazkX "Strong brew: Heineken HQ spurs innovation through interaction [slideshow]")
Office Buildings | Jun 2, 2017
Strong brew: Heineken HQ spurs innovation through interaction [slideshow]
The open plan concept features a Heineken bar and multiple social zones.
Office Buildings | May 30, 2017
How tech companies are rethinking the high-rise workplace
Eight fresh ideas for the high-rise of the future, from NBBJ Design Partner Jonathan Ward.
| May 24, 2017
Accelerate Live! talk: Applying machine learning to building design, Daniel Davis, WeWork
Daniel Davis offers a glimpse into the world at WeWork, and how his team is rethinking workplace design with the help of machine learning tools.
High-rise Construction | May 23, 2017
Goettsch Partners to design three-building Optics Valley Center complex
The Chicago-based firm won a design competition to design the complex located in Wuhan, China.
Office Buildings | Apr 18, 2017
Heineken USA Headquarters redesign emphasizes employee interaction
An open plan with social hubs maximizes co-working and engagement.
