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What would you build? An interesting question arrived from a reader in our mail bag yesterday about what to build on a vacant commercial lot in Cape Coral. First off, the commercial market in Southwest Florida and particularly Cape Coral remains very hot. Commercial vacancy rates are in the low single digits in Cape Coral. Commercial [...] Growing demand for class A space in Cape Coral While Cape Coral doesn’t need anymore real estate offices or title companies, there is a significant under supply of class A office space. Cape Coral needs modern corporate office buildings like those lining Summerlin Boulevard in Ft. Myers. McGarvey Development of Bonita Springs is constructing a seven office [...] Effects of Hurricane Charley still felt Thurston Martin, an agent with Coldwell Banker Commercial Sunstar Realty, has been operating in the Charlotte County market since 1990 — the past eight years as a commercial real estate agent. Q: Could you explain how Hurricane Charley disrupted the Charlotte County commercial real estate market? A: It reduced retail, professional office [...] Cape Coral’s booming commercial intersection Formerly thought of as too far away from bridges, too rural and practically useless as home sites, the area around a Pine Island Road intersection is rumbling with construction. With Cape Coral rapidly filling up from an influx of a reported 10,000 new residents a year, one of the last large areas [...] First time buyers are entering commercial market Many real estate executives say they have recently seen a significant uptick in the number of first-time buyers who are entering the commercial market. Many buy small apartment buildings or retailing centers or mixed-use properties that combine apartments with a few stores, real estate professionals say. Some executives say the [...] Shopping center coming to Burnt Store area If there is an area in SW Florida in need of shopping amenities, Burnt Store would top the list. This area just over the Lee County border in the in the southern end of Charlotte County is rapidly growing collection of residential developments. At present time, the area is utterly [...] Low vacancy rates for class A space Throughout Lee County, finding suitable class A office space is a growing challenge for companies moving to or expanding in the area. The CB Richard Ellis semi-annual inventory for Lee County shows a drop in vacancy rates from 18.8 percent in 2003 to 10.2 percent in January of 2005. These [...] New parks expand tax base, jobs. Cape Coral has a big problem: not enough of the rapidly growing city is zoned industrial to maintain a healthy economy. The daily traffic patterns during rush hour on the two bridges are a good indication of this ever growing problem. It is very clear to see when riding around the [...] Interest rate increases expected Orlando-based economist Hank Fishkind told a conference of Southwest Florida real estate agents Thursday that by the end of this year rapid increases in the price of investment properties will be a thing of the past. “We’ll be lucky” if the worst that happens is a slowing down in commercial real estate appreciation, [...] Lee County’s office market has struggled over the last few years. But as 2004 winds down, market data is showing some positive signs. “Lee County’s office market continues to improve with strong transaction volume and velocity,” explains Randal Mercer of CB Richard Ellis, who recently completed his 2004 office market study. The study looks at [...] |
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