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Banks Bullish On Commercial Real Estate

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Here’s a snippet from the article:

This marks the first time in two years that a majority of respondents polled have expressed interest in increasing their real-estate exposure. Some say this is further evidence that the market has seen its lowest point and is now on the rebound. In fact, a majority of respondents foresee moderate performance in each of the five major property types–retail, office, industrial, multifamily, and hospitality.

The study shows commercial real estate to be showing bullish signs. In a related story, Tampa Bay’s office market is on the rise, according to an article by Steve Huettel in today’s St. Petersburg Times. Here’s a snippet:

Pinellas County and downtown Tampa will be top-performing markets for office real estate in the country over the next two years, according to a new study.

The study from Cushman & Wakefield, a major real estate services firm, rated Pinellas No. 1 among 40 suburban office markets and Tampa second to Orlando among 29 central business districts.

Researchers based the rankings on a composite score of factors that included job growth, new construction, vacancy rates, asking rents and changes in the amount of occupied space, known as “absorption.”

Pinellas and Tampa rose to the top largely because of forecasts that local white-collar employment will grow 5 percent this year and 6 percent in 2005, compared to 2 percent growth nationally, said Larry Richey, who manages Cushman & Wakefield’s Tampa and Orlando offices.

Because the office market’s showing bullish signs, now’s a great time to start investing in office space, such as office buildings. When the economy rebounds, this kind of real estate will likely yield some nice returns.

-John Mudd
“Mr. Real Estate”

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