PARSIPPANY, NJ-Call them the naughty aughties, the owingaughties or some other phrase, the decade just concluding has beena turbulent one for anyone in the property business, says“Commercial Real Estate in the 21st Century,” a report by ColdwellBanker Commercial.

The decade began with steadily rising prices, followed by twoyears of a major decline. As the decade turns, however, real estateis back on a cautious upswing. “It is becoming a solid investmentclass once again,” says Fred Schmidt, president and COO of CBC.

Technology was a running factor throughout the decade. Thedot-com bubble that fueled office space growth prior to 2000 burstearly that year, leaving data centers and offices vacant, thereport notes. By 2004, the survivors had moved into good space, andanother round of tech-related expansion was under way. The need fordata center space has continued to grow, as “cloud data” from sitesincluding Google, YouTube and Twitter requires storage.