The flood of distressed office situations that capital markets experts have been predicting for the last year has been slow to materialize, but a series of cracks in the dam this month show that a wave may be incoming. The weeks since Labor Day have brought an influx of actions from keys being handed back to lenders to UCC foreclosures and credit downgrades that experts say represent a meaningful shift in the way struggling office buildings are being handled. “We're seeing small signs of distress,” said Marisha Clinton, a senior director of regional research in the Northeast for Savills. “There's no question about that.” 
Past predictions about an incoming wave of distress have been met with adamant denial from owners, but the frequency of distressed transactions this month alone is definitive, experts said.“We've started to see some pockets of distress where there have been potential enforcement transactions,” said David Heller, executive vice president of Savills’… Read the full story here. | 
