Reflections on Sarasota 2015 Commercial Real Estate - Winter 2016

The year 2015 will be remembered as exceptional for commercial real estate in the Sarasota area for virtually all sectors.

In addition to the numerous construction projects dotting the landscape, the region in the past year has experienced record-breaking sales involving development sites and income-producing investment properties alike. Leasing activity in many areas has been brisk; especially in the office and industrial sectors.

Downtown Sarasota has been among the most active of submarkets in all of Southwest Florida. The city’s core has a trio of lodging projects underway as of the end of 2015, along with new apartments and condominiums. Road work continues to improve downtown’s vehicular and pedestrian grid, and new retail shops are busy building out their interiors in anticipation of another stellar winter tourist season.

Taken together, the construction will result in a more invigorated, attractive and lively downtown that will take another step toward the “24-hour city” planners envisioned nearly 20 years ago.