George Ratiu, an economist for the National Association of Realtors, described the outlook for commercial real estate next year as "a little bit clouded." Some improvement is on the way for the multifamily sector, he said, but for the rest of the commercial property business, the outlook is decidedly negative. "It's employment within a given sector that drives the demand for real estate," Ratiu said. Based on that reality, 2011 will be the year of recovery for commercial real estate, he said.

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