Ian Black Real Estate
Three units available - office space, warehouse space, and a roll-up door available in each. Outstanding location in the prestigious Lakewood Ranch Corporate Park. Only 1.5 miles to I-75. The Lakewood Ranch Corporate Park is a 1,273-acre campus-style business park, which is home to over 250 local...
For Lease: $14 PSF (Annual) Details
Three units available - office space, warehouse space, and a roll-up door available in each. Outstanding location in Lakewood Ranch Corporate Park. Only 1.5 miles to I-75. The Lakewood Ranch Corporate Park is a 1,273-acre campus-style business park, which is home to over 250 local and national businesses...
For Sale: $525,000 Details
Highly visible, 8,909 office building FOR SALE or LEASE. Located between downtown Sarasota and Sarasota Memorial Hospital, this building has great existing signage and an average daily traffic count of 67,000 cars. The ground floor has plumbing throughout, making this space ideal for a medical...
For Lease: $16 PSF (Annual) Details
Highly visible, 8,909 office building FOR SALE. Located between downtown Sarasota and Sarasota Memorial Hospital, this building has great existing signage and an average daily traffic count of 67,000 cars. The 3rd Floor is tenanted by a home health care agency. The ground floor has plumbing...
For Sale: $1,650,000 Details
Located in the Pine Park office park on South Tamiami Trail, just south of Stickney Point Road, these two buildings are offered at an exceptionally attractive lease or sale price.
For Sale: $262,125 Details
Office condo in great condition within Tech Park in the Lakewood Ranch Corporate Park. The space is 2,923 SF but can be divided into two units, 5A (1,147 SF) and 5D (1,776 SF).
For Lease: $16 PSF (Annual) Details
Conveniently located, 2nd floor unit of the Courthouse Square Office Condominium with on-site parking Private elevator Freshly remodeled, with wooden floors, updated kitchen, 4 offices and a conference room. Well-lit offices with plenty of daylight and open, central work area. 2,499 SF office condominium...
For Sale: $337,365 Details
1500 SF office condo available. Five offices, reception/waiting area, conference room, kitchenette, and two restrooms. Located on SR 70 near Lakewood Ranch Blvd.
For Lease: $18 PSF (Annual) Details
Small medical office in a great location in Proctor Center just off of US41. Unit H for sale. Former dental lab, with open offices and windows on 3 sides. The space has large-tile floors, with plenty of room and no wasted space. Perfect for any small office user. Listing price may not be sufficient...
For Sale: $125,000 Details
Two Buildings For Lease $14.00 GROSS PSF or For Sale $150 PSF. Located in the Pine Park office park on South Tamiami Trail, just south of Stickney Point Road, these two buildings are offerred at an exceptionally low lease or sale price. Building E - 7069 S. Tamiami Trail - 1,606 SF Building D...
For Lease: $14 PSF (Annual) Details
SIX (6) MONTHS FREE WITH A THREE (3) YEAR LEASE!! CALL FOR DETAILS! TWO (2) MONTHS FREE WITH A ONE (1) YEAR LEASE!!! Move In Ready Office, 2 units could be combined or taken separately Beautifully Landscaped, Professional Business Park Atmosphere Lakewood Ranch Technology Park. Floor to ceiling corner...
For Lease: $8.50 - 10 PSF (Annual) Details
Tradition at Palm Aire Loses $20M | Bradenton Herald
May 17th
MANATEE — A New York City real estate firm lost more than $20 million after selling the Tradition at Palm-Aire Apartments along the University Parkway corridor in South Manatee, court records show.
Tradition Tarragon LLC sold the property at 8445 Gardens Circle for $13.5 million May 2 to JWC Sarasota TPA LLC.
Tradition Tarragon paid $35 million for the 178-unit complex at the height of the housing boom in 2005 — selling some of the units off as condos at the time, according to the Manatee County Clerk of the Circuit Court.
JWC Sarasota TPA LLC is based in Providence, R.I. Neither company could be reached for comment.
The property features eight floor plans ranging from one-bedroom, one-bath units at 627 square feet that rent for $805 a month to three-bedroom, two-bathroom units that cover 1,395 square feet and run up to $1,345 per month.
The apartment complex also includes three swimming pools, a hot tub, two lighted tennis courts, a fitness center and club house.
The current management offers leases from seven to 18 months.
Housing Market Continues to Improve, Sarasota #9 | Ted Jones
May 17th
7 out of the top 10 Turnaround Towns are in Florida
There are positive signs spanning the spectrum indicating a turning real estate market despite some weak spots across the country.
Just a few days ago, USA Today reported that the number of existing homes for sales had dropped 22 percent from a year ago and now totals just 2.37 million units. This is down 41 percent from the peak reached in mid 2007. That said, the National Association of Realtors ® reported rising prices in 74 of the 146 markets they track in the first quarter of 2012 versus declines in 72 locales. Even more significant is the dramatic decline in some of the hardest hit markets:
- March inventory in Phoenix declined 64 percent from a year ago according to Arizona State University real estate expert.
- NAR reports very tight inventories in Phoenix, Orange County, California, Naples, Florida, Seattle, suburban Washington, DC and North Dakota (driven by the energy boom being experienced in that state).
- While mortgage delinquency rates remain above average (with average being 2 percent), they dropped from 6.19 percent in Q4 2011 to 5.78 percent in Q1 2012 according to TransUnion (based on a sample of 10 percent of US mortgage holders) and are down from a 7 percent peak in Q4 2009
- All-cash transactions in Q1 2012 made up 31 of all sales—and I doubt these people would be buying and paying cash if they thought property values would decline further
- 22 percent of all buyers were investors
- Condominium prices rose 3.4 percent when compared to Q1 2011
- Q1 2012 existing home sales were up 5.3 percent from the same period in 2011 and are now running at annualized rate of 4.57 million
- Total existing home sales in Q1 2012 were at the highest level since 2007
- Move.com reports that many of the hardest hit markets are now among the top recovering markets
Community Banks Grow Loans by Distrust of Larger Institutions
May 17th
Particularly when compared with a year earlier, multifamily lending was a bright spot for the community banks with more than $1 billion in assets in the latest completed quarter.
But runoff rates remain high, as many borrowers continue to deleverage and pay down debts. And, increasingly pressing, competition for coveted customers is fierce, meaning conservative lenders have to back away from a fair number of credit deals because of downward pressure on pricing.
“It is very competitive out there, and at times you just can’t go down on price to keep certain credits, so I don’t think we’re different than most everybody else in that we’re not going to avoid some runoff,” Sand said.
But there is a silver lining within all of that from community bankers’ perspective, Sand said. “Many customers are telling us they are tired of working with the really big banks — and that is a big source of the competition out there — and they are tired of the service they are getting,” Sand said. As such, community banks, which strive to be long on personalized service and local expertise, are finding they can pluck away good customers from larger lenders, he said.
“Community banks, certainly, can’t provide all the products and services of a big bank, but with technology today, we can provide many of them,” Sand said. “Not everything, but most people don’t need everything. If they can get what they need, and get it with really good service, that becomes very appealing.”
Stealing share from lenders is a big reason why Sand anticipates some loan growth this year.
“It is pretty significant,” Sand said. “Some of the nicer credits we’ve been able to get recently have come from the big banks.”
Rent Prices Rising? It’s true.
May 10th
From Ted Jones Blog:
The dearth of residential construction in the past four years and a growing (albeit sputtering) economy, has set the stage for several years of rising rents—and in some locations SIGNIFICANTLY rising rents. One of the mega themes I have addressed this past year in my presentations has been the trend towards more people becoming renters rather than owners.
24/7 Wall Street completed a study examining rental growth rate, home price changes from the peak and in the prior 12 months, and job growth in the price 12 months.
Data taken from Trulia found that in the 100 largest housing markets home prices increased slightly (yes—once again showing that the housing market bottomed last year) and rents increased more than 5 percent on average. Six markets showed rents rising more than double digits. These markets are detailed in the following table.
The bottom line is that rents will continue to rise (as will home prices), which should make many renters consider becoming homeowners.
Owners of rental housing will see rising rental rates and values, once again.
From Ted C. Jones real estate blog
Tampa Bay Commercial Banks Faring Better than Most | Tampa Bay Biz Journal
May 8th
Community banks headquartered in the Tampa Bay area had a smaller percentage of troubled loans in their portfolios and stronger capital ratios than banks in most other parts of Florida.
Nonperforming assets as a percent of total assets made up an average 3.58 percent of the portfolios at 41 banks based in the Bay area, according to a first quarter 2012 report from accounting firm Saltmarsh Cleaveland & Gund. That was the lowest percentage of the eight regions in Florida.
Statewide, nonperforming assets made up 4.75 percent of total assets, the report said.The leverage ratio at Bay area banks averaged 9.21 percent for the first quarter of 2012. The leverage ratio measures core capital and is a key measure of bank health. Statewide, the leverage ratio was 8.49 percent.The 41 local banks had combined total assets of $15.1 billion, and combined loans of $9.8 billion for the quarter ended March 31. The same banks had total assets of $14.6 billion and total loans of $9.6 billion on Dec. 31, Saltmarsh reported earlier.
Net income for the 41 banks for the first three months of 2012 was $21.9 million. USAmeriBank in Largo was the most profitable bank listed, with $5.4 million in net income for 1Q 2012, while Southern Commerce Bank in Tampa had the biggest 1Q loss of $417,000.The report did not include Raymond James Bank in St. Petersburg, the largest bank headquartered in the Bay area. Raymond James Bank converted from a thrift to a commercial bank on Feb. 1.
