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
Office Buildings | Mar 10, 2016
Expedia unveils design for Seattle waterfront campus
Transparency and outdoor areas will give the complex a Pacific Northwest vibe.
Office Buildings | Mar 9, 2016
CBRE: Workplace wellness on the rise
As insurance premiums and deductibles continue to rise, both employees and employers are evaluating options to improve their wellbeing, writes CBRE Healthcare Managing Director Craig Beam.
Market Data | Mar 6, 2016
Real estate execs measure success by how well they manage ‘talent,’ costs, and growth
A new CBRE survey finds more companies leaning toward “smarter” workspaces.
Office Buildings | Mar 2, 2016
HDR redesigns Twin Cities' studio to have coffee shop vibe
With open spaces, huddle rooms, and a design lab, the firm's new digs are drastically different than the old studio, which felt like working in a law office. Design Principal Mike Rodriguez highlights HDR's renovation plan.
Office Buildings | Mar 1, 2016
SmithGroupJJR and The Christman Company create a financial headquarters without the drab
The “un-bank” design ditched the stuffy design elements typical of financial institutions and, instead, created something much more inviting.
Office Buildings | Feb 29, 2016
Mobileapolis: An open experiment in workplace mobility
Check out this fun infographic that explains Perkins+Will's ambitions, findings, and next steps for the future home of the firm's Minneapolis office.
Office Buildings | Feb 26, 2016
Benching, desking, and (mostly) paper-free: Report identifies top trends in workplace design for 2016
The report, from Ted Moudis Associates, encompasses over 2.5 million sf of workspace built over the past two years.
Game Changers | Feb 5, 2016
Asia’s modular miracle
A prefab construction company in China built a 57-story tower in 19 days. Here’s how they did it.
Game Changers | Feb 4, 2016
GAME CHANGERS: 6 projects that rewrite the rules of commercial design and construction
BD+C’s inaugural Game Changers report highlights today’s pacesetting projects, from a prefab high-rise in China to a breakthrough research lab in the Midwest.
Mixed-Use | Jan 25, 2016
SOM unveils renderings of dual-tower Manhattan West development
The five million-sf project includes two office towers, a residential tower, retail space, and a new public square.