Like the residential sector, the market for commercial property has not been immune to the challenges presented by the broader real estate correction of the past few years. Further, even though residential sales are exhibiting the earliest stirrings of a comeback, activity in the commercial sector continues to be contracted; due mainly to tightened credit, more properties to sell—including an increasing number of foreclosures—and conflicting economic predictions fueling buyer uncertainty. Moreover, the disconnect between what sellers want and what buyers are willing to pay for a property is clearly causing sales to be worse than anemic compared to activity in normal years.
Fortunately, just as the residential real estate market is cyclical in nature, a complete recovery is fully expected for the commercial sector. It will take a while longer, to be sure, as the commercial correction commenced long after the residential correction was well underway. The most encouraging news as we mark the midpoint of 2009 is that the current market environment will cease to get much worse. Many leading indicators predict the commercial sector will likely bottom-out before year’s end. Meanwhile, there remains a continuous flow of capital-rich investors seeking to purchase heavily-discounted bank-owned properties through foreclosures and short sales.
Needless-to-say, such a market offers buyers with ready capital the same sort of unparalleled buying opportunities that purchasers in the residential sector have been saying “yes” to in ever-increasing numbers. Not in a decade have commercial properties been priced this low; and many buyers are now satisfied that we are close enough to a bottom in the market to act expeditiously when the right piece of commercial property comes along.
As well, the opportunities available to those who wish to lease in lieu of buying have never been more attractive. Tenants are negotiating phenomenal rental terms that not only position their businesses for healthier profits in the short term but also set the stage for accelerated growth in the post-recession economy.
For commercial property owners today, survival may very well depend on doing everything within their means to promote leaner, more streamlined operations, retain existing tenants and sign new one. That’s where the newly-expanded Commercial Property Management Division of Michael Saunders & Company can make all the difference; by offering all the benefits and resources of a large national commercial management firm, combined with the local expertise, depth of coverage and high-touch professionalism for which Michael Saunders & Company has been well-known for decades. Now, more than ever, it makes good sense to work with a company that has long had their fingers on the daily pulse of the commercial market; its expertise always in step with the latest changes and newest trends.
With highly-skilled agents blanketing Southwest Florida—from Manatee to Charlotte Counties—the Commercial Property Management Division utilizes a variety of resources to retain current tenants, fill vacant spaces and keep properties operating in the black. One of the major advantages of retaining a skilled property management firm is the benefit of not having to deal with the day-to-day intricacies of efficient, hands-on supervision; which allows you the owner to focus on more productive issues. Because our management fees are often based on a percentage of gross revenues, we have a vested interest in keeping your office, retail or industrial property fully occupied and running smoothly. These days it’s just as important—if not more so—to retain valued tenants even as you go in search of new ones.
The menu of management services include a comprehensive marketing and leasing program based on a detailed survey of the market. We also provide a monthly prospect and leasing report to keep you fully apprised of the market’s activity. We oversee billing and rent collection and initiate programs to promote tenant relations and retention; and supervise all on-site service contractors, installers, maintenance personnel and others who come into contact with the facility or office. When their services will benefit or are needed by our clients, the division regularly retains some of the region’s most reputable attorneys, lenders, land planners, appraisers, architects, surveyors, contractors and sub-contractors.
Unlike larger national property management firms who frequently prefer working with only the largest clients, the team from the Commercial Property Management Division of Michael Saunders & Company is committed to working with property owners of all sizes and needs. Even the smallest property owner can take advantage of our ala carte menu of services; which enables us to work together within the scope of even the smallest budgets.
To learn more about how the Commercial Property Management Division of Michael Saunders & Company can help your commercial property—or properties—enjoy profitability even during the leanest of times contact Eric Massey, Director of Business Development, at (941) 957-3730.
