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Commercial real estate purchases show rebounding Florida economy

When the recession hit Florida, economists scrambled to give companies a heads-up on what the future would hold for business in the their area. Unfortunately, many businesses were hit hard and residents across the state watched Florida's economy begin to dwindle. But by just looking at recent commercial real estate purchases in Southwest Florida, readers of our blog may be able to see that our state's economy is rebounding in a healthy way.

Just to name a few would be those made by CRE Consultants in Naples this month. Looking at leasing space from Casa Homes Associates, CRE Consultants was able to negotiate 2,400 square feet for Bedman Enterprises Inc. and Oneyda's Bakery and Deli LLC in the Empire Plaza building. As readers of our blog may know, commercial real estate transactions such as this often require considerable negotiations to ensure that each party understands the terms of the lease agreement. Breaking such an agreement can often lead to serious litigation and complex legal disputes as well.

But lease agreements are not the only transactions in Southwest Florida this month. Several land purchases were made as well, including one by a land developer in downtown Cape Coral. The $1.3 million purchase did not come without its issues as one of the four buildings that were purchased was being leased at the time of sale. While this could have created complicated legal issues, the new owners negotiated terms with the existing tenant who is expected to move to a different location within the purchased property.

As these recent transactions show, business is returning to Florida and boosting the local economy as well. It's important to point out that while many of these real estate transactions appear to have worked out relatively easily, legal representation was usually sought in order to ensure the process went as smoothly as possible.

Source: Naples News, "Southwest Florida real estate briefs," Sept. 22, 2013

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