The recent edition of the Midlands Business Journal featured an article quoting several commercial real estate experts with a common tone. Bank lending has become more positive and is not thought to be a major hurdle for a qualified buyer. Vacancies continue to trend downward in all categories, most notably in the high end office market. Industrial demand has continued to be strong with many quality properties being leased or purchased. This has impacted the overall supply of product to a point that construction may be needed to satisfy demand. Landlords continue to offer significant concessions but the article suggests that these will be leveling out in 2013 with owners having more negotiating power in the future. These different factors all appear to support continued investment in commercial property in the metro with good long-term returns.
Over the recent months at Propertybanc, we have noticed an increase in both leasing and sales activity, in terms of rental inquiries and motivated investor/owner purchases. We recently reviewed the figures and find that our business sales volume showed a 30% increase over the prior year when we look at total dollars of sales and leasing activity. Even more exciting was the fact that the number of transactions increased 50% over 2011 levels. Our commitment to service has produced solid increases in our volume and we want to thank those clients that were able to complete transactions last year. The market continues to show strength going forward and we hope to be able to improve in a similar pattern in the coming year. Please let us know what we can do to be of service in helping you with your business space needs.