The travel and tourism industry has long been Southwest Florida’s major economic driver, and our region has never been more popular for visitors. As a result, commercial property around Southwest Florida International Airport is in high demand. Find out what’s going there– and what could be on the horizon.
Development news in Charlotte County often takes a back seat to neighboring Sarasota and Lee Counties. However, a number of projects, including Allegiant Air’s $510 million Sunseeker Resort, will change the face of Port Charlotte and the surrounding communities and have lasting effects on Charlotte County’s growth.
Property values are soaring, and interest rates are at near record lows. To take advantage of one of the strongest sellers’ markets in recent history, commercial properties need to be appealing to potential buyers. But they need more than just a physical facelift. They also need fiscal preparation.
Many companies look at facilities management as simply an assortment of a la carte services: maintenance, cleaning, security, and others, often retained only when needed. However, a shift to more strategic facilities management has recently started, and this change has accelerated in part due to the coronavirus pandemic.
Does the COVID-19 pandemic qualify as force majeure or an act of God? Current litigation could have major implications on the way commercial force majeure lease clauses are interpreted for both owners and tenants.
Office vacancy rates are sky-high in other parts of the country, but Southwest Florida has been bucking the national trend with significantly below-average unemployment rates and commercial vacancies. Why? One reason- our businesses are built for durability.
Real estate is hot once again. Median home sale prices across the nation are 17% higher than they were just one year ago. Current conditions seem reminiscent of the housing boom before the Great Recession so many homeowners in our region are feeling déjà vu and worry that current conditions represent a housing bubble like we saw in 2007.
Americans’ grocery shopping habits changed significantly during the COVID-19 pandemic, forcing retailers to find new ways to provide essential goods and services. Half of U.S. consumers now say they purchase at least some of their groceries online. Will traditional grocers expire as consumers continue to shop from the comfort of their home?
The Southwest Florida commercial real estate market is white-hot, and many property owners are hoping to take advantage of high values by selling their assets. While some buildings and land will be snapped up quickly by eager buyers, other properties are likely to languish on the market for months—or even longer—with little interest from potential investors. Generally speaking, there are four reasons why your commercial property isn’t selling.
