With the pounding the sector took over the past two years, there may now be light at the end of the tunnel for local, Naples commercial real estate brokers. It’s official that today, the government announced the first quarter of growth since early 2007. Much of that driven by real estate activity across the board.
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After years or relatively low house and land prices, most of us were surprised when they fell even lower during late 2007 early 2008. Land isn’t something we’re short of here, but prime land has always been just that. Some areas like Port Royal have always fetched a premium, and always will whatever the economic climate.
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Even though means may be limited, there has never been a better time to relocate or expand a business in Naples. Space for lease is at its cheapest for many years, some warehouse or industrial space can be rented for as little as $1 per square foot!
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The popularity of commercial property once outweighed that of residential. In Naples, space for lease used to be at a premium, that allowed landlords to pretty much charge what they liked. There was still money to be made here, and also plenty of mistakes.
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On the internet, or in commercial realtors windows anywhere in Naples, retail space for lease is abundant. If you’re a landlord with some on your books these three tips should help you get them rented faster and for longer.
Now I don’t want to sound like some kind of thought guru trying to espouse mind over matter, but there is an element of truth to it. If a landlord thinks it’s going to take a long time to rent out a space because of the economy, it probably will.
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If the neighborhood has less money, it stands to reason they have less to spend. That means the stores take a hit, which is why there is so much Naples retail space for lease right now. If you’re a landlord with vacant space, don’t despair, and if at all possible, don’t sell up.
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In an area with properties as expensive as Naples, tenant representation can often make the difference between your being able to afford a good space and being able to afford a great space.
For many businesses relocating to finding suitable commercial or retail properties is a necessary chore. Most companies will only do it a few times so won’t be too familiar with the process, or particularly good at it. This leaves the advantage with the landlord, as they do it for a living.
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Property prices may have dropped somewhat over the past couple of years, but Collier County still has a fairly competitive market. We were fortunate in that although things got bad, we didn’t get hit as much as other parts of the country. It’s one of the many benefits of living in paradise!
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If you have vacant Naples commercial real estate, how do you determine the future rental value of it? With the market on its head, the traditional valuation methods don’t always work.
I’m going to give you 8 good ways of valuing commercial real estate ready for the next tenant. In Naples, commercial real estate once fetched a premium. It doesn’t right now, but it will do again and landlords need to remain competitive now, while having half an eye on the future.
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Surviving in a difficult market is all about reducing risk. Whether that your exposure, the type of tenant you use, or the type of buildings you buy. The Naples commercial real estate market is still moving along, albeit at a slower pace, just like it has done for the past 100 or so years.
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