Commercial Real Estate Trends in Southwest Florida
Commercial real estate is heating up as we head towards summer 2015
As we head into summer 2015 the Southwest Florida Commercial Real Estate Market is promises to be one of the hottest on record. Due to the fluctuations in the industrial market prices continue to steadily increase. The good news for buyers and investors is that so is the value of land and property.
While commercial rentals are considerably up commercial buyers are playing it cool. Which sounds like an opportunity for any investor ready to buy. Buyers that are cautious and have the proper real estate broker in their corner may find themselves in a prime position to purchase regardless of the scarcity in the commercial market.
The leasing market is closing, but with prices rising higher and higher there is no better time for investors to swoop in and make and almost immediate profit. The market seems to be lacking smaller retail spaces for rent. 1500 to 4000 SF spaces are hard to come by and pushing the $11.00 PSF gross price point. For the first time in a couple of years, we have seen new construction as well!
Naples has seen a dramatic upturn in the variety of restaurants available proving that the commercial market is alive and more than well. With the addition of a Fresh Market and a new Chili’s Bar & Grill the area is hot for development. Berkshire Commons Naples is undergoing new construction as well and is expecting the addition of a Five Guys Burgers and Fries, Moe’s Southwest Grill, Tropical Smoothie Cafe and Royal Scoop ice cream parlor. Additional good news for any perspective commercial investors is that due to the recent upswing in residential rentals existing eateries are looking to upgrade to larger venues.
Further south, down off East Tamiami Trail, in the Shops at Hammock Cove, plans call for a half dozen new restaurants in addition to other retail establishments and even a possible hotel. The first restaurant coming to the area will be Culver’s, which currently has a location off Airport-Pulling Road, north of Pine Ridge Road.
As far as retail is concerned there seems to be more restaurants being built along with more outlet stores on the horizon. Retail demand closely follows residential trends and true to form the upswing in residential rentals will translate once again into a need for more retail establishments.
The big commercial boom seems to be centered on the construction of several new rental facilities. This seems to project and even brighter future on the horizon for southwest commercial real estate and all those eager to invest may be in for a windfall assuming they make the right purchase at the right time.
If you are interested in staying abreast of all the latest real estate trends click here. Encore Realty has the most experienced realtors in the business. ENCORE REALTY has the skill and the infrastructure to handle every aspect of your commercial real estate transaction, contact us today!