Black Friday showed strong growth across online and in-store sales, generating about $9.8 billion in online sales this year, marking an increase of aapproximately 7.5 percent from last year when those figures reached $9.12 billion, according to data from Adobe Analytics cited by CNBC. While up, there is a strong indication that consumers are shopping … Continue reading Ho Ho Ho, the Economy Exhibiting Good Black Friday News

According to a recent Wall Street Journal article, office attendance has increased to 50.5% of pre-pandemic levels. More and more businesses are changing their policies to require greater in-office attendance. The implications of these evolving policies extend beyond the workplace and into the real estate markets, influencing both the office and residential sectors. Office tenants … Continue reading Return to Work policies affect the Office and Residential Markets

Starting on December 1, businesses will enjoy a 1% drop in sales tax paid on leases in Sarasota and Manatee counties, from 6.5% to 5.5%, granting substantial savings to all tenants. The tax relief package signed into law by Florida’s Governor Ron DeSantis on May 25 brings the first phase of dynamic changes to the … Continue reading Tax Relief is imminent! The Sales Tax on leases to drop by 1% in short order.

5% vacancy for the office sector has been quoted as a healthy level to ensure mobility. What does that really mean? The best way is to show you an example from our community. 1. Manatee County Commissioners decide to convey the property at 4410 66th Street currently utilized by the Manatee County Utilities Department to … Continue reading Mobility: What does it mean for Office Vacancy Rates?

Construction in Sarasota and Manatee Counties continues, but there’s a strong dip in the scale of current projects across all sectors. Vacancy rates in the region have risen slightly across most property types. Current vacancy rates in each sector are: Retail: 3.9%Industrial: 4.3%Office: 4.7%Multi-family: 9.7%In the past quarter, lease and sale prices have generally gone … Continue reading How SRQ Stands Out in Today’s Commercial Real Estate Market

Thanks to the Florida Legislature Sales Tax Rate Drop: Effective December 1, 2023, Landlords and Tenants in SRQ Region will see the sales tax on their leases drop from 6.5% to 5.5%.   Sales tax on Leases:  Sales tax on commercial leases is made up of two parts.  The bulk currently goes to  the state and … Continue reading Cost of Leases Coming Down

While this phenomenon is a National Issue, Florida and California are among the states experiencing the highest insurance rate hikes. Why? Weather related disasters, fraud and the legislative environment are all factors in these increases.  Florida is working to eliminate fraud and other insurance factors  legislatively.  Insurance industry leaders indicated that Florida’s legislative system has … Continue reading 25%, 30%,100% and even close to 300% increases in Insurance costs are facing Commercial Property Owners in Florida.

149 luxury condos will be delivered from 2023 to 2026 in 3 projects.  Aventon, a 372 unit apartment project, gains City Commission approval despite the Airport Authorities litigation to prevent it. Tourism sees good news, a new flight from SRQ to Raleigh/ Durham, NC, and bad news, active Red Tide in the area. New businesses … Continue reading Luxury and controversy are a part of the residential developments moving forward in SRQ.

VETERAN’S DAY, ALLOWS US TO HONOR OUR VETERANS. “This nation will remain the land of the free only so long as it is the home of the brave.” – Elmer Davis Today we express gratitude in honoring all current and former members of the Armed Services and their families. As we honor the commitment, sacrifice … Continue reading VETERAN’S DAY, ALLOWS US TO HONOR OUR VETERANS.