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2nd Quarter, 2022
The state of the Sarasota commercial real estate market is intense. All for sale well-located properties are receiving significant attention from qualified buyers. Still dominating the demand are multi-family residential sites. Leasing is a bit more measured, but even leasing is stronger than in the past several years, and lease rates across the board have generally increased. I try not to be too effusive about a market as every hot market eventually cools or collapses. This heated market is different from markets I have seen in the past – the purchases are in cash and the buyers are from all over the country and the world. Some buyers will put debt on the property post-closing, but I have not seen any accepted contracts contingent upon conventional financing.