Join us in the first part of the series with Patrick DelMedico of Sheperd insurance. We’ll discuss how property owners can navigate the ins and outs of property insurance to minimize their costs and maximize their property values. Click here to watch the video.

In case you missed it, starting June 1, 2024, the sales tax imposed on commercial property will decrease from 5.5% to 3%. Landlord’s, make sure your invoices are updated. Tenants, the invoice you received is not an error but a decrease of 2.5% based on Florida’s change in Legislation. Enjoy this good news!

With a shifting velocity and cap rate, Sarasota’s Commercial Real Estate market is in motion. The average market cap rate is currently 8.7% vs. 7.3% at the end of the 3rd quarter. What is a Cap Rate? Capitalization rate, sometimes known as cap rate, is a metric for assessing a property’s investment potential. It’s the … Continue reading Capitalization Rate

🔍 Market Dynamics: With a shifting velocity, the velocity of the market in this first quarter of 2024 is is 2.86% based on sales volume and 6.02% based on number of transactions. What is Velocity?Velocity: The market’s velocity refers to how quickly properties are bought or sold. A high velocity indicates active buying and selling … Continue reading Market Velocity

📈 Absorption: Despite facing challenges with a negative absorption rate, the negative absorption is shrinking. Currently we are reporting a negative absorption of -9900 square feet, a dramatic improvement from negative 124,000 in August 2023. What is absorption? The rate at which vacant space is rented out or utilized by tenants is referred to as … Continue reading Market Absorption

“✨ Competitive Edge: Sarasota’s office market boasts a low vacancy rate of 4.4%, underscoring a competitive edge even as we navigate Commercial Real Estate in vacancy and tenant movement. This metric showcases office demand, a reminder of the strength and appeal of our market, and the need for strategic foresight in leasing decisions. #CompetitiveMarket #StrategicLeasing

Office Market Insights: Valued at $5.3 billion with 2,808 properties, SRQ’s (Sarasota and Manatee Counties) Commercial Real Estate market is a testament to our region’s vibrancy. Despite a recent dip in sales volume, the commitment of private investors highlights the underlying confidence in our market’s fundamentals. #CRE Vibrancy #InvestorConfidence

📊 Population & Prosperity: With the Sarasota and Manatee Counties nearing 900,000 residents, our community’s growth fuels diverse economic opportunities, especially in sectors like tourism and healthcare. Our region has shown that plans for growth respect both our strengths and the importance of adapting to change. #SustainableGrowth #CommunityFocus

🚀 Dynamic Growth: Sarasota’s job market and population are among the fastest-growing in the nation, thanks to our warm weather and no income tax policy. October 2023 saw a 1.7% employment increase, equating to 339 jobs in just one month. #JobGrowth #PopulationGrowth

💡Economic Resilience in Sarasota: Our local economy, buoyed by $151.5 million in office investments over the past year, stands resilient amid broader challenges. While strong and compelling, this number is 20.5% below the $190.5 million reported in August over the previous 12 month period. #EconomicCommercialRealEstateResilience #MindfulInvesting #SarasotaEconomy #RealEstateResilience