State of the Market - Summer 2019

Healthy and strong are two of the best adjectives to describe the state of Sarasota’s commercial real estate market. It is difficult to envision a market slowdown under the fundamentals we are fortunate enough to enjoy at present. Unemployment stands at an incredibly low rate; interest rates have remained historically low and attractive to borrowers; buyers continue to demonstrate discipline and are not paying too much for properties; and probably most re-assuring, lending institutions are being responsible and disciplined in their lending practices. On a more micro level – the downtown Class A office market remains somewhat of a conundrum as available space remains at around 12%: Our market should be below 6%. There are many factors contributing to this and we invite you to call Harshman & Co. to discuss them.