The burst of the U.S. commercial real estate bubble may not be bad as many had expected, the president of Jones Lang LaSalle Inc.’s capital markets group said Monday.

Following the September 2008 collapse of Lehman Bros. Holdings Inc., real estate investors worried there would be a widespread sell-off of troubled commercial properties, Reuters reported.

But James Koster, speaking at the Reuters Global Real Estate and Infrastructure Summit in New York, said that although commercial property values have fallen, the anticipated flood of foreclosures and bankruptcies has not occurred.

Nor does he expect it to.

“We should be in a relatively good position to not have this other shoe drop,” Koster said, noting that cash buyers, such as institutional investors and real estate investment trusts, have been waiting for quality but debt-laden real estate to hit the market.

The influx of fresh capital, he said, as well as special servicers who have been holding on to debt-ridden assets and collecting fees for managing them in lieu of selling the properties at fire-sale prices, has put the market in a better position.

U.S. regulators have also allowed lenders to extend, restructure and modify loans, which has given the real estate markets a chance to regroup and for values to increase.

“It’s a better market now,” Koster said.