Jeff Carlino, CCIM

Jeff Carlino, CCIM

The Florida commercial real estate market continues to improve in most geographical areas. These include the following counties where we specialize:

Lake County Florida (which includes Leesburg, Clermont, Eustis, The Villages, Lady Lake, Groveland, Tavares, Mount Dora and more)

Sumter County Florida (which include The Villages and Wildwood)

Marion County Florida (which include Ocala, Belleview and more)

Orange County Florida (which include Orlando, Walt Disney World, Universal Studios Florida, and more)

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While prices for the sale of  Florida commercial property are still in flux, it appears that rents for those Florida properties and rental activity have finally reached bottom. It has been a long time coming, but the drop from 2007, 2008 and 2009 has finally hit a plateau.

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Full Service Commercial Website

Full Service Commercial Website

Since the beginning of 2010, there have been remarkable increases in the number of commercial property listings and commercial real estate Florida listings for renting of commercial space. Real Estate Brokers and prospective tenants are realizing that this may be a great time to move or expand. The price per square foot for commercial office space and retail space is probably the lowest it will ever be. If you want to open a business, a store or an office, this is a golden opportunity to do so before rents once again begin rising.

After going through their worse years since the 1930′s depression, owners are eager to make deals. At this moment in time, both sides realize that the bottom has been reached. Owners of  Florida Commercial Real Estate want to begin filling the vast amount of empty space that has accumulated. Real deals are to be had for those tenants that are first in line to take advantage of this unique entrepreneurial business opportunity.

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As the number of retail vacancies decrease, starting rents will begin to rise and concessions will be fewer. That is why it is so important for brokers and tenants to take advantage now. I am seeing entrepreneurial businesses jump on this opportunity while more established and larger firms are losing out because of their bureaucratic tendencies.

We have or are in the process of closing several deals with tenants. Many of those tenants are entrepreneurial businesses with established offices and businesses. They do not over-rely on others before making a decision. Twice in January, We saw large corporations lose space to entrepreneurial businesses because of their inertia. These entrepreneurs possess the ability to make quick and nimble decisions. They are renting the best spaces in the building, taking advantage of the lower rents and more concessions being offered, and will be open for business long before completion invades their marketplace.

While there may not be a return to an earlier period of spiraling rents, you may see a period in which rents increase proportionately to the economy.

Once rents are stabilized, then prices for  Florida Commercial Real Estate will also stabilize. Too often in the last decade, investors overpaid for real estate based on faulty assumptions of what future rents would be. Mortgage lenders have learned their lesson (at least for a little while) and will improve their due diligence before lending. Perhaps reality will once more prevail in the real estate market.

Carlino Commercial Group, Inc.
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Jeff Carlino, CCIM
118 N. 14th Street
Leesburg, FL 34748
Office: (352) 360-1031
Fax: (352) 360-0379
Email:carlinogroup@aol.com

Commercial Real Estate Florida, Commercial Property Listings

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