Sep. 2020 Time To Sell Newsletter

Cushman & Wakefield | Commercial Property Southwest Florida is being represented by CEO/Principal Broker, Gary Tasman for Part II of Navigating the Impact of COVID-19 webinar series. Tasman joins other top leaders in development, real estate and the land use industry to discuss how the local real estate has responded to the epidemic and the impact to our community. “It is important to provide timely, accurate data to the market in the wake of the post COVID-19 pandemic. This is a way to deliver high level, point specific data, with the top market leaders”, said Gary Tasman, CEO & Principal Broker at Cushman & Wakefield | Commercial Property Southwest Florida. “Commercial real estate is rapidly changing in Southwest Florida, the epidemic has created opportunities in some areas and significant challenges in others.” The Urban Land Institute’s mission is to provide leadership in the responsible use of land and in creating a sustainable, thriving future for communities. They carry forth that mission by serving the Southwest Florida region with pragmatic land use expertise and education. The webinar is scheduled for Thursday, August 27th at 3:00pm – it can be seen by registering here: https://swflorida.uli.org/uli-southwest-florida-webinars-events/detail/6E4A2B52-B9B0-4A65-9FD9-D27A49201B25/ Cushman & Wakefield | Commercial Property Southwest Florida provides commercial real estate solutions in every stage of the real estate process, representing clients in buying, selling, leasing, property management, financing and valuing assets.

By Gary Tasman For years, commercial property growth in Cape Coral lagged behind the city’s white-hot residential market. That trend, however, is changing. Commercial development is now booming in Cape Coral, thanks to simple economics. A large supply of residents and consumers creates a large demand for retail and commercial businesses. Cape Coral’s population has grown by more than 25% to 200,000 residents in just the last 10 years. Between now and 2025, we can expect to see it increase by another 10%. Take a quick drive down any of Cape Coral’s main transportation corridors, and you’ll see dozens of sites under construction, new businesses, and development opportunities. This trend will continue for many years to come. Ready to make a move ? Get started by contacting us. For more than a decade, Pine Island Road has been the focus of commercial growth in Cape Coral. This trend started in the early 2000s with the introduction of big box stores like Kohl’s, Target, and BJ’s Wholesale, as well as car dealerships and shopping centers. “Because the city was pre-platted primarily into residential lots, it was challenging for these early developers to gather enough property to build a large commercial complex,” explains Shawn Stoneburner of Cushman & Wakefield Commercial Property SWFL. “But the city’s been very supportive of growth, especially along Pine Island Road. We’re now seeing a second wave of commercial development.” These new projects not only take advantage of vacant space, but also revitalize some stagnant properties. A new Fairfield Inn is under construction near the intersection of Pine Island and Pondella Roads, providing the City’s only hotel north of the Midpoint Bridge. The northeast end of Pine Island Road has also recently seen the opening of a new Nissan dealership, as well as a groundbreaking for Pine Island Village, a large retail and commercial project. “Pine Island Road is just one area where developers have an opportunity to make their mark,” says Stoneburner. “But there are also opportunities along Cape Coral’s other two main arteries, Del Prado Boulevard and Cape Coral Parkway. We see health care, entertainment, hospitality, and auto dealerships as strong markets for continued growth.” Cape Coral’s downtown has recently seen a flurry of activity, including new banks, retailers and restaurants, with more on the way. A Chase bank is in the works, as well as the long-awaited Village Square, a 250,000 square foot mixed-use facility that will combine both residential and commercial space when completed. “South Cape is filling in, but there the market isn’t saturated yet,” explains Stoneburner. “Our brokerage recently placed a large property under contract on Cape Coral Parkway near Del Prado, and we’re excited about the development potential.” Investors looking towards the future of the Cape Coral market may want to consider two other areas with strong development potential. Burnt Store Road presents great opportunities for growth, thanks in part to a rapidly growing population in Northwest Cape Coral. The current Burnt Store Road widening project will also benefit developers as access to Northwest Cape and Punta Gorda improves. A second area with great potential lies along US-41 from Del Prado to Burnt Store Road in Charlotte County. While not technically in Cape Coral, this corridor has easy access to the Cape and land available as commercial and industrial sites. A projected I-75 interchange will spark future growth, and smart investors will be ready to take advantage of the opportunity. To learn more about existing space available and development opportunities in Cape Coral, contact Cushman & Wakefield Commercial Property SWFL, your go-to team for commercial brokerage needs. Our team knows the community and has access to the data that you need to make your next move in one of the fastest-growing markets in Florida.

By Gary Tasman For years, commercial property growth in Cape Coral lagged behind the city’s white-hot residential market. That trend, however, is changing. Commercial development is now booming in Cape Coral, thanks to simple economics. A large supply of residents and consumers creates a large demand for retail and commercial businesses. Cape Coral’s population has grown by more than 25% to 200,000 residents in just the last 10 years. Between now and 2025, we can expect to see it increase by another 10%. Take a quick drive down any of Cape Coral’s main transportation corridors, and you’ll see dozens of sites under construction, new businesses, and development opportunities. This trend will continue for many years to come. Ready to make a move? Get started by contacting us. For more than a decade, Pine Island Road has been the focus of commercial growth in Cape Coral. This trend started in the early 2000s with the introduction of big box stores like Kohl’s, Target, and BJ’s Wholesale, as well as car dealerships and shopping centers. “Because the city was pre-platted primarily into residential lots, it was challenging for these early developers to gather enough property to build a large commercial complex,” explains Shawn Stoneburner of Cushman & Wakefield Commercial Property SWFL. “But the city’s been very supportive of growth, especially along Pine Island Road. We’re now seeing a second wave of commercial development.” These new projects not only take advantage of vacant space, but also revitalize some stagnant properties. A new Fairfield Inn is under construction near the intersection of Pine Island and Pondella Roads, providing the City’s only hotel north of the Midpoint Bridge. The northeast end of Pine Island Road has also recently seen the opening of a new Nissan dealership, as well as a groundbreaking for Pine Island Village, a large retail and commercial project. “Pine Island Road is just one area where developers have an opportunity to make their mark,” says Stoneburner. “But there are also opportunities along Cape Coral’s other two main arteries, Del Prado Boulevard and Cape Coral Parkway. We see health care, entertainment, hospitality, and auto dealerships as strong markets for continued growth.” Cape Coral’s downtown has recently seen a flurry of activity, including new banks, retailers and restaurants, with more on the way. A Chase bank is in the works, as well as the long-awaited Village Square, a 250,000 square foot mixed-use facility that will combine both residential and commercial space when completed. “South Cape is filling in, but there the market isn’t saturated yet,” explains Stoneburner. “Our brokerage recently placed a large property under contract on Cape Coral Parkway near Del Prado, and we’re excited about the development potential.” Investors looking towards the future of the Cape Coral market may want to consider two other areas with strong development potential. Burnt Store Road presents great opportunities for growth, thanks in part to a rapidly growing population in Northwest Cape Coral. The current Burnt Store Road widening project will also benefit developers as access to Northwest Cape and Punta Gorda improves. A second area with great potential lies along US-41 from Del Prado to Burnt Store Road in Charlotte County. While not technically in Cape Coral, this corridor has easy access to the Cape and land available as commercial and industrial sites. A projected I-75 interchange will spark future growth, and smart investors will be ready to take advantage of the opportunity. To learn more about existing space available and development opportunities in Cape Coral, contact Cushman & Wakefield Commercial Property SWFL, your go-to team for commercial brokerage needs. Our team knows the community and has access to the data that you need to make your next move in one of the fastest-growing markets in Florida.

Gary Tasman, the CEO of Cushman & Wakefield in Fort Myers, was quoted in the News-Press regarding the future of office space and how it is affected by the current pandemic. “That culture of inter-personal action and relationship-building is really going to be the underlying strategy for almost all office uses,” he said. Additionally, Tasman discusses and gives his predictions based on the results of the Cushman and Wakefield  “XSF@home Survey” which was meant to gauge COVID-19’s impact on the workplace. Read article at Newspress.com