If you’re scouting the ravaged commercial real estate sector for a safe haven, parking lots mabe worth a look.
If you can find one to bid on before it’s snatched up, that is. And if the price isn’t already well out of your range.
“A surface parking lot offers a good rate of return and its rewards are as close to being recession-proof as you’re going to get,” says Ross Moore, chief economist for Boston commercial real estate firm, Colliers International.
Full story: http://www.cnbc.com/id/44929808