Emerald Coast of Florida: Commercial Real Estate Market
2013 should reflect an extension of our commercial market’s performance last year. Base rents have retracted enough to support the economics of small business. The trend has evidenced Tenants’ belief of value in rents, as many are making an attempt to sign lengthier leases to secure the perceived value in rate structure.
Operating costs (NNN rates) have decreased, thereby lending better value to tenancy. For the foreseeable future, these rates should remain lower, helping solidify value even further.
A considerable amount of commercial debt will mature starting in 2013, which will create the need of refinancing of debt or divestiture. This looming dynamic should create opportunity, so contact me to discuss strategy.
Destin - Miramar Beach - Sandestin - Santa Rosa Beach - 30A - Grayton Beach - Fort Walton Beach - Niceville - Navarre
John Paul Somers & Company
36164 Emerald Coast Parkway, Suite 8
Destin, Florida 32541
Toll Free 1-855-JPSOMERS (1-855-577-6637)