Economic Update | December 18, 2020
Unemployment The Civilian Unemployment Rate (U-3) fell from 6.9% in October to 6.7% in November. The 0.2% month- over-month decline is the slowest rate of improvement since the Spring shutdown. While improvement is slowing, U-3 has recovered by 8.0% since April, when...
Economic Update | December 4, 2020
Retail According to Moody’s Analytics / REIS reporting, signs of distress are spreading in the retail sector. The sector’s vacancy rate rose by 0.2% to 10.4% in the third quarter, reaching a seven-year high. Average asking retail rents declined 0.1% from the previous...
SVN Commercial Advisory Group manages sale of $1.49M Historic Crusader Building in Palmetto
Palmetto, Fla. (December 1, 2020) – Senior advisor Mike Migone, CCIM, of SVN Commercial Advisory Group recently coordinated the sale of the 14,526 SF historic “Crusader Building” at 323 10th Avenue in Palmetto. Crusader Properties, LLC was the seller. Palmetto...
Medical office buildings remain sound amid struggling CRE markets
Physicians keep working, take advantage of financing opportunities to help bolster the industry Most people are aware of the difficulties certain sectors of commercial real estate (CRE) have endured during 2020 the wake of the global pandemic. The toll on retail,...
Positive signs are on the horizon for CRE
The announcement of successful vaccine trials and new concepts of employee work environments may be good news for the industry It’s no secret that the COVID-19 pandemic and accompanying lockdown have inflicted severe damage upon the world economy. That’s been true of...
Economic Update | November 13, 2020
GDP According to the Bureau of Economic Analysis, the U.S. GDP grew at an annualized rate of 33.1% in the third quarter of 2020. The third quarter rebound follows the worst single quarter contraction on record. Annualized economic total output fell by 31.4% in Q2....