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

🌟 Navigating the SRQ Office Market: With 28.6 million square feet of office space, Sarasota and Manatee Counties shine as the beacon of Southwest Florida’s Commercial Real Estate market. Despite facing national headwinds, our local market demonstrates remarkable resilience and potential for stability. Stay tuned for insights on how our region navigates the Commercial Real … Continue reading Introduction to SRQ Office Market Pulse

Part 3: Other Factors to Consider Quality and Location AdjustmentsThe quality of the office space and its location can significantly impact its value. High-quality amenities or a desirable location may justify a higher lease rate, even if the nominal costs seem steep at first glance. Lease Term BenefitsLonger lease terms can offer benefits such as … Continue reading Navigating Commercial Lease Comparisons: A Comprehensive Guide: Not all Lease Rates are Created Equal

Comprehensive Cost AnalysisStart by identifying all the costs associated with each lease type, including base rent, property taxes, insurance, maintenance, and any additional expenses specified. Don’t forget to account for the load factor, which can significantly impact the effective cost per square foot. Effective Rate CalculationTo compare leases effectively, convert all costs into a common … Continue reading Navigating Commercial Lease Comparisons: A Comprehensive Guide: Not all Lease Rates are Created Equal – Part 2: A Methodology for Accurate Lease Comparisons

This 3 part series breaks down the complex topic of commercial lease comparisons by detailing basic concepts as well as more nuanced considerations. The case study serves as a practical example to solidify understanding before moving on to additional factors that influence lease decisions. The intent is to both educate and provide a clear path … Continue reading Navigating Commercial Lease Comparisons: A Comprehensive Guide: Not all Lease Rates are Created Equal

Insurance considerations are a vital part of lease discussions. It is important that a landlord engage their insurance broker in reviewing their lease. This means reviewing both the insurance that the landlord must carry and what they require of their tenant. This will have implications for any mortgage as well. A landlord needs to know … Continue reading Insurance: A Key Element in Lease Agreements

The terms of a lease renewal can significantly impact a property’s value. As market conditions change, rent should adapt accordingly. Landlords should aim for rent to be aligned with economic trends or incorporate fair market rates in renewal options. This approach ensures a level of fairness and market relevance. The renewal option plays a big … Continue reading Creating Lease Renewal Options to Maximize Property Value