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Dot-com Crash Hurts Real Estate Development Industry

Posted by: Chris Steins
Thanks to: Tom Collins
8 July 2001 - 6:00am

The dot-com crash has hit the real estate industry hard. Real estate deals are going bust.

"During the boom years of the mid-1990s, scores of tech companies were hiring thousands of employees each quarter, which required them to lease or purchase millions of square feet of space for offices, distribution centers and manufacturing facilities. ... Technology companies' busted building deals are reverberating through commercial real estate markets in regions with a concentration of high-tech companies."

Full Story: Tech firms face reality of real estate deals
Source: CNET News, July 4, 2001
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