Commercial Property Holds Steady
May 1, 2008 12:00 PM
A new report by Moody's Investors Service indicates that six of the seven commercial property types held their ground at the end of the first quarter. Limited service hotels bucked the trend, with scores declining to 64 on Moody's scoring system, from 77 in the fourth quarter of 2007. The ratings agency's scoring system assigns scores of 0 to 100, with a higher score indicating better performance. A traffic-light analogy further defines performance, with green indicating the highest-scoring performance (67 to 100), yellow for average (34 to 66), and red for the worst performance (0 to 33). Retail properties, including neighborhood and community shopping centers, earned the highest score for three consecutive quarters. Retail properties garnered an 82 for the first quarter. Of the 53 retail markets the ratings agency tracks, 43 rated green while 10 fell into yellow territory.
