Positive Sarasota Office Space Absorption

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Many brokers in the Sarasota market are reporting a pickup in leasing activity, and the numbers show that there has already been a modest improvement in the absorption numbers. This is in line with many of the forecasts which call for a long, slow recovery. Many companies are finding that now is the ideal time to expand their operations or establish new locations as they are able to secure very favorable lease terms. While economists have been calling a bottom to housing prices in the area for a while now, I believe we now have concrete indications that the commercial market has also reached the bottom.

I do not believe that we’re going to see the rapid rebound as many previous recessions have had, but I do see that business with solid fundamentals are getting financing and even start-ups are securing cash.

2010 is going to be slow, but there is real value in the office leasing market. And just as our residential brokers saw in 2009, the properties with the greatest long term value will lead the market. I believe those properties can be defined as built in the last 5 years, with nearby amenities and good access to either the I-75 corridor or CBD.

If you or your business are looking to move, start-up or own your own real estate, now is a great time to be in the market. Contact me at (941)  321-7323 or the contact tab at the top of the page for more information.

Anthony Homer