“I’m waiting for …” What? Why? Don’t wait! Do something!

I saw the post below online this morning and it reminded me of one of those “lessons learned.” As a young associate I once started a response to a senior attorney (who wanted an update on the status of an important matter) with “I’m waiting for ….” That’s far as I got! “Why? Why are you waiting? Pick up the phone and call him. Get it done. GO.”

Whoa. My first reaction was “What a jerk!” And, frankly, he was. THEN, however, I realized the reason I was waiting was because I was intimidated at the prospect of calling the attorney on the other side. I was stalling because of my own insecurity. And there was no reason for it! He’d made his point.

Lesson learned: Whenever you find yourself starting a sentence with “I’m waiting for …,” take a second and think about whether you should be waiting for anything at all or whether, instead, you should take control and make something happen! More often than not that is the better choice!

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Good News Keeps Coming …

good-newsWow. I think the (seemingly mythical) “turnaround” in the commercial real estate market is actually going to stick this time! After many years of up and down and sideways market conditions, GOOD news about the Orlando/Orange County/Central Florida commercial real estate market is being consistently observed and reported. For example, see this article entitled “9 things that may surprise you about Orange County real estate” by Anjali Fluker, writer for the Orlando Business Journal. Local market indicators are the best they’ve been in at least 5 years, new construction and new commercial activity is booming throughout the area (have you seen the construction (and traffic) on International Drive lately? It’s insane!) and deals are being made! Here in Winter Park things are very active along the 17-92/Lee Road/Denning Drive corridors, which I think is fantastic. I WILL be checking out the new Trader Joe’s on 17-92 as soon as it opens! On a larger scale, my clients who attended the recent ReCon/ICSC convention in Las Vegas came back with pleasantly optimistic reports. Sure, everyone in real estate has been burned enough the past several years that they remain at least slightly wary, but that’s good business judgment in all market conditions and is also healthy for the industry. Nobody I know wants another real estate “bubble” to blow up in our faces. But, despite all the false starts and cautionary tales of the past few years, we finally seem to be in the midst of a consistent, upwardly trending, pattern of recovery. Thankfully, it feels good to read the commercial real estate news again, in the OBJ Commercial Real Estate News and other publications.

Orlando Real Estate Market On The Rise

Orlando Commercial Real Estate Market Statistics Improving

 

Is now the right time to invest in commercial real estate in Orlando, Florida? The property market, both domestic and commercial, has been highly volatile since the start of the economic crisis. People are scared to invest in anything, particularly commercial properties. Considering the public has little money to spend, investing in commercial property seems incredibly risky, since a large proportion of newly starting businesses fail and go under very rapidly. However, it seems some good news is on the horizon.

After a precipitous decline in 2008 and a faltering recovery since then, the Florida housing market appears to have returned to a growth path this year.

Research economists aren’t sure if this is a true recovery,or rather a quick up tick in prices or part of just the first wave of a full blown recovery. So, it seems that the time to buy commercial properties in Orlando, Florida, is here.

Orlando Is Back in Businesses

A great example that proves the growth in the commercial real estate market in Orlando is found in the Lake Nona area. Whenever you attend this part of the city, you will notice that new businesses have been added and that the face of the area has changed yet again. This is a wonderful positive development .

The Orlando City Council on April 8 approved Lake Nona Land Co. LLC’s master plan for a 17-acre office park near the fast-growing biotech hub of Medical City. The estimated $85 million project includes 570,000 square feet of general office space in three buildings, a 150-room hotel and two 10,000-square-foot restaurants, along with 2,830 parking spaces in two parking structures and surface parking lots.

And that is just part of the good news, as restaurants and shopping centers are also being developed. Residential real estate has already been on the rise for some time now in Lake Nona, but the commercial side of things is now picking up.

Orlando, Florida Commercial Real Estate Statistics

For those who like and understand numbers, the following statistics should help you even further. Various statistics are being collated, with Jones Lang Lasalle  providing regular statistics on offices and industries, to name but a few. According to their research, which is always well received and highly truthful

Orlando’s seasonally adjusted unemployment rate dipped 10 basis points from July to August. At 8.5 percent, Orlando’s Metro unemployment rate dipped to a post-recession low and 190 basis points below its rate one year ago. Moreover, nonfarm payrolls expanded by a moderate pace of the 12 month period as employers added a total of 26,400 new jobs, amounting to a 2.8 percent expansion of nonfarm payrolls.

This is but a part of the positive news however. It seems that the rate of direct vacancies is down, the rate of vacancies is down and the leasing activity is up. Similar pictures are seen across the other areas monitored by Jones Lang and Lasall as well, showing a highly promising future for the young boy. The local economy is becoming stronger and stronger ant his is mainly found in the construction industry, making that a particularly interesting area of commerce and businesses.

A number of companies who held off on investing in commercial real estate in Orlando are now actively considering a number of properties. All the statistics and information tell us that you will be able to get a great deal on your piece of commercial land, whether you want to use it to build your own business, or whether you want to buy it with a business included and rent it out.