TED Spread signals easing of Credit Squeeze

According to Bob Bach, Chief Economist for Grubb&Ellis the credit pinch may be showing signs of easing:

Bob's Box
TED Spread

One indicator that the credit squeeze is easing is the TED spread – the difference between interest rates on 3-month Treasury bills (“T”) and the 3-month Eurodollar futures contract (“ED”) as represented by the dollar London interbank offered rate (Libor). Treasuries are risk-free, while Libor is a proxy for the credit risk of corporate borrowers. The recent narrowing suggests that lenders are becoming more willing to take risks. At some point this easing, if it is sustained, should begin to show up in the commercial real estate capital markets.
Source: Federal Reserve, British Bankers' Association

Forbes: Raleigh is #5, Americas Most Recession Proof Cities.

Raleigh, N.C.
Median home price: +4%

Unemployment: 4.2% (from 3.7%)

Key growth: Professional and business Services, +7.4%; education and health, +6%

Stable home prices and growth across the different sectors of its economy have kept Raleigh strong. In the last 12 months, all industries measured by the U.S. Department of Labor have grown except for the city's small information sector.

Crossroads Corp Park Fetches $59M

Deal Summary:
Property: Crossroads Corporate Park, Cary, NC
Price: $59M ($151/SF)
Size: 390,500 SF; 133 acres plus 4 development parcels totalling 16 acres
Buyer: MayfieldGentry
Seller: Faison & Associates, LLC
Local Broker: Jimmy Barnes of NAI Carolantic

Notes: The park consists of four low- and mid-rise office buildings along Dillard and Corning roads southwest of Raleigh, and is 97 percent leased to tenants including Capitol Broadband, Jacobs Engineering Group and Wake County Public School System, according to CoStar information.

Source: Co-Star