As recession continues to pommel the national economy, the commercial property market in Arizona is facing threats of foreclosure in what analysts call as the creeping effects of the nationwide housing market crisis, which used to plague only the more vulnerable residential and upper scale properties sector.

Property experts had conceded that the high end market of commercial buildings, which used to enjoy immunity from the ills of property bursts, succumbed to the mounting pressures of property market crisis.

Speculators and investors prowling the Glendale foreclosure market were surprised to realize that office buildings and even retails complexes were now fair games for the preying property hunters for the past two years when the usual norm was would-be buyers should be searching for single family or multi family units as they were more readily available.

Now, a recent report showed that a building located in the Westgate City Center could be up for grabs as the likelihood of foreclosure is knocking on its doors.

Reports said that the property is among the thousands currently placed under Arizona foreclosures as its troubled developers, Ellman Cos and Westgate Garden Office I LLC, already were served notice of trustee sale for the sprawling 40,000-square foot property.

Experts in foreclosure properties in the area were reminding buyers that the Westgate property almost immediately followed the fate of a land once owned by the Bidwills, owner of the NFL team Arizona Cardinals.

They were in agreement that the recession further pushed the city’s housing market to the pit as premier office complexes such as the Westgate building and the Bidwill property were rendered vulnerable to foreclosure threats as the real estate crisis took a turn for the worst.

Market analysts pointed to Ellman Cos inability to attract tenants for office units in the Westgate building which led to the foreclosure woes, as company officials admitted that negotiations with the property’s lenders are ongoing to work out an amicable settlement that would benefit both ends of the spectrum.

At the same time, Ellman Cos gave assurance that in the event of actual foreclosure, the Westgate complex would be effectively free from any ill effects as the company revealed that projects under its wings were separately managed and financed, which is the same case with the troubled property.