With unemployment hitting 13.2 percent in Sarasota County and many businesses unable to weather the storm, there are some amazing deals to be had in commercial real estate. Currently it is less expensive to own, than it is to rent, commercial space.
Online PR News – 04-April-2010 – – The popping of the commercial real estate bubble has definitely hit Sarasota Florida Real Estate. There are more “For Sale” and "For Lease” signs dotting our roadways that most can remember. What is shocking about the signs is they are going up in the middle of one of the busiest winter seasons Sarasota has seen in a long time due to the brutal winter northern states have endured this year and the exodus south of many northern residents.
“The prolonged economic recession and high unemployment rate in the local economy is taking its toll on businesses that were not prepared to weather the storm.” says Roy Hunter, owner of MyMarketingCompany.com.
What does it take to weather the storm? “Many business owners forget that they are “in business” and what being “in business” actually means. They do not understand what it takes to plan for the future, or weather the storms. Virtually every small business I encounter with problems does not have a well defined business and marketing plan to help them navigate through the tough times. As a result, many business owners with the build it and they will come mentality are not making it.”
“There is a silver lining.” says Sarasota real estate broker Christina Miller of Peens Property Group. “Owners of well-run businesses who may be seeking to expand or reduce overhead have never been in a better position. The prices and availability of commercial real estate for sale in Sarasota will amaze you.
“You can purchase commercial space now and the payments will be well below what it currently costs most businesses to rent. Not only are you reducing your overhead you are building equity in a business asset that can be leveraged to help you make it through future economic road-bumps.” Christina commented.
As a business and marketing adviser, Roy Hunter recommends to his clients that they do everything possible to reduce their overhead as much as they can to help their business succeed today and in the future. “Reducing your overhead leaves you with more financial resources that could be used for covering un-expected business costs as well as marketing expenditures. Marketing is what brings customers through the front door, customers that you need and will profit from. Owning the real estate you operate in is one of the best things you can do to help solidify the future of your business” said Mr. Hunter of MyMarketingCompany.com