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 5, 2024
Former McDonald’s headquarters transformed into modern office building for Ace Hardware
In Oak Brook, Ill., about 15 miles west of downtown Chicago, McDonald’s former corporate headquarters has been transformed into a modern office building for its new tenant, Ace Hardware. Now for the first time, Ace Hardware can bring 1,700 employees from three facilities under one roof.
Designers | Feb 23, 2024
Coverings releases top 2024 tile trends
In celebration of National Tile Day, Coverings, North America's leading tile and stone exhibition, has announced the top 10 tile trends for 2024.
High-rise Construction | Feb 23, 2024
Designing a new frontier in Seattle’s urban core
Graphite Design Group shares the design for Frontier, a 540,000-sf tower in a five-block master plan for Seattle-based tech leader Amazon.
MFPRO+ News | Feb 15, 2024
UL Solutions launches indoor environmental quality verification designation for building construction projects
UL Solutions recently launched UL Verified Healthy Building Mark for New Construction, an indoor environmental quality verification designation for building construction projects.
Office Buildings | Feb 13, 2024
Creating thoughtful tech workplace design
It’s important for office design to be inspiring, but there are some practical principles that can be incorporated into the design of real-world tech workplaces to ensure they convey an exciting, sophisticated allure that accommodates progressive thinking and inventiveness.
Urban Planning | Feb 5, 2024
Lessons learned from 70 years of building cities
As Sasaki looks back on 70 years of practice, we’re also looking to the future of cities. While we can’t predict what will be, we do know the needs of cities are as diverse as their scale, climate, economy, governance, and culture.
Industry Research | Jan 31, 2024
ASID identifies 11 design trends coming in 2024
The Trends Outlook Report by the American Society of Interior Designers (ASID) is the first of a three-part outlook series on interior design. This design trends report demonstrates the importance of connection and authenticity.
Giants 400 | Jan 29, 2024
Top 80 Office Core and Shell Engineering Firms for 2023
Jacobs, WSP, Alfa Tech Consulting Engineers, Thornton Tomasetti, and Burns & McDonnell top BD+C's ranking of the nation's largest office core and shell engineering and engineering/architecture (EA) firms for 2023, as reported in the 2023 Giants 400 Report.
Giants 400 | Jan 29, 2024
Top 140 Office Core and Shell Architecture Firms for 2023
Gensler, Stantec, Page Southerland Page, Perkins&Will, and NBBJ top BD+C's ranking of the nation's largest office core and shell architecture and architecture engineering (AE) firms for 2023, as reported in the 2023 Giants 400 Report.
Giants 400 | Jan 29, 2024
Top 80 Workplace Interior Construction Firms for 2023
STO Building Group, HITT Contracting, Clune Construction, Hensel Phelps, and JRM Construction Management top BD+C's ranking of the nation's largest workplace interior and interior fitout general contractors and construction management (CM) firms for 2023, as reported in the 2023 Giants 400 Report.
