Commercial Real Estate Deals Off

Sputtering economy and pullback in financing limit transactions.

The U.S. commercial real estate market has slowed in the past three months as the sputtering economy and a pullback in debt financing limited deals, cooling a recovery from Washington to California.

A total of $49.8 billion of commercial property changed hands in the third quarter, down from $58.5 billion in the previous three months, according to a report released today by Real Capital Analytics Inc. The 15 percent decline is the second-biggest since the first quarter of 2009, the real estate research firm’s data show.

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