Southwest Florida Shines in NAR List of Top 10 Commercial Real Estate Markets
Cape Coral and Fort Myers joined a strong list of major metropolitan cities in the annual top 10 Commercial real estate markets report by the National Association of Realtors.
Major factors in deciding areas included economic, demographic, housing and commercial market conditions in multifamily, office, industrial retail and hotel property sectors. Other indicators included GDP growth, unemployment rate, median household income, consumer spending, the number of business’s that opened, population growth, homeownership rate, rental vacancy rate, building permits and apartment rent.
Cape Coral and Fort Myers ranked among Nashville, Phoenix, Raleigh, Salt Lake City, Tucson, Seattle, Las Vegas and Austin. According to Lawrence Yun, the NAR’s Chief Economist, “The top commercial real estate markets that are expected to outperform the rest of the nation are generally affordable and able to draw new residents with a greater flexibility to work from home”. Yun also predicts that the U.S. economy will continue to improve and expects the commercial real estate market will follow. Tim Schneider, a Principal at TCG, agrees that Fort Myers is a strong investment, “Right now, there is a great opportunity to capitalize on the current market conditions in Fort Myers.”
Trinity is a full-service brokerage firm with specialties in tenant and landlord representation, asset disposition, investment and development services, multi-family and property management.