Commercial Real Estate Insights
Mike Migone, CCIM Manages Sale of $2.7M Medical Office Building
Sarasota, FLA. (May 19, 2021) – Senior advisor Mike Migone, CCIM of SVN Commercial Advisory Group recently coordinated the sale of a 15,395 SF, multi-level medical office building at 5922 Cattlemen Lane in Sarasota, FLA. The seller, Medical Leasing Group, LLC, was...
GDP, Lumber Prices & The Labor Market | Economic Update
GDP According to the Bureau of Economic Analysis, Real GDP increased at a seasonally adjusted annualized rate of 6.4% during the first quarter of 2021. Personal consumption expenditures (PCE), a sub-component of GDP output, rose at an annualized 14.6% in the first...
Why the Restaurant Revitalization Fund Will Work Better Than the PPP
The $29 billion fund has strict guidance on the businesses that can access funding and what they can do with it. The restaurant revitalization fund has the potential to drive recovery in the restaurant sector after a full year of severe dislocation. It will likely...
Gail Bowden of SVN CAG Manages Sale of 3,000 SF Office in Englewood
Englewood, Fla. (May 10, 2021) – Senior advisor Gail Bowden, of SVN Commercial Advisory Group, recently coordinated the sale of a 3,932 SF office suite located at 900 Pine Street, Suite 111 in Englewood, FLA. Tammy Birbeck D.O. PLLC was the buyer. Lemon Bay Vilco,...
SVN CAG Manages Sale-Leaseback of Stearns Bank Branch in St. Pete
St. Petersburg, Fla. (May 11, 2021) – Senior advisor Brad Lindberg, of SVN Commerical Advisory Group, recently coordinated the sale-leaseback of an 11,236 SF bank building located at 7555 MLK Jr. Street North in St. Petersburg, FLA. PR St. Pete, LLC was the buyer....
Buyers and Sellers Still Find It Hard to Meet on Price
Some sellers are disappointed they cannot yet achieve pre-pandemic prices. The business of getting buyers and sellers to agree on a price was exacerbated during the pandemic. Now that an end to the health crisis is hopefully in sight, have those tensions eased? As...
SVN CAG, CCA manage many $1 million+ deals in Q1
Advisors adapt to changing CRE market amid pandemic and economic contraction Sarasota, Florida (May 07, 2021) – During the first quarter of 2021, advisors from the SVN Commercial Advisory Group and SVN Coastal Commercial Advisors completed more than 50 deals exceeding...
Economic Update | April 30, 2021
Covid Cases & Vaccinations The 7-day moving average of daily COVID-19 cases in the US ticked down to 67,175 on April 19th, a modest decrease that comes after two weeks of near-daily increases. While the trend has started to re-improve, the current mark remains 4%...
Q1 Was a ‘Turning Point’ For US CRE
Sale listings increased and the average asking price per square foot rose 5.6% from Q4 2020. CRE activity is bouncing back with the end of the COVID-19 pandemic (potentially) in sight. The first quarter of 2021 “represented a turning point both for the US and the...