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Old 06-17-2007, 09:55 AM
 
Location: Heartland Florida
9,324 posts, read 25,491,930 times
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The building of shopping centers continues even as home building slows. With rising insurance, property taxes and high priced leases, is a crash looming for commercial property? I know of several retail businesses who have been just meeting expenses for the last few months, but their leases are going to get more expensive. Today I see an article in the newspaper about Tenants of a Davie shopping center. Remember all the empty shops in the 1970's? Seems like history will repeat itself.
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Old 06-17-2007, 10:53 AM
 
193 posts, read 468,781 times
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I don't know about that Tallrick. Here in Srasota there is 3.5 BILLION in new construction that has started or will be starting very soon. A huge convention center on the water, the Waldorf Astoria is coming to town a huge shopping mall and another mixed use project.
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Old 06-17-2007, 01:22 PM
 
Location: So. Dak.
13,495 posts, read 35,905,882 times
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Quote:
Originally Posted by Audacious View Post
I don't know about that Tallrick. Here in Srasota there is 3.5 BILLION in new construction that has started or will be starting very soon. A huge convention center on the water, the Waldorf Astoria is coming to town a huge shopping mall and another mixed use project.
Well, that sounds like progress, but the thing is~can all of it be supported? Normally when big new malls are opened, the little Mom and Pop stores fold up soon. Just because new and big things come to a city, it doesn't mean that everyone will survive.
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Old 06-17-2007, 01:38 PM
 
432 posts, read 1,812,671 times
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I think it depends on location. I am in a town in north NJ which would greatly benefit from supercenters, but there is little available land. So commercial real estate at the moment in this small area is offices, or the existing structure is knocked down and a walgreens or autozone comes in. These are great opportunities for investors because they are net lease deals, with the large corporations like walgreens and cvs not owning the building, but leasing it - for 25 years.

What has not been sustained in the local downtown areas of nj towns is retail. This is a very tough thing to maintain.

The building and zoning will continue - the type of use may change.

As long as you are doing your homework about the type of investment or development, and planning for the future, commercial continues in many areas to be a great real estate investment, especially for investment groups.
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Old 06-18-2007, 05:45 AM
 
1,418 posts, read 9,847,687 times
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I can't speak for the rest of the state, but in the Orlando area there are areas that are way behind in commercial development, given the huge recent influx of residential development. In St. Cloud and Kissimmee the big box retail stores can't get enough developable land quick enough. I know that Lowes, Target, Kohls and other retail outlets are trying to find space down in those areas. There are "village" type shopping centers that are going in down there, already pre-leased.

Office-Warehouse / flex space can't be developed fast enough in certain stratigic areas in and around Orlando.

Small strip-commercial centers aren't going anywhere - they're pretty dead.

Office space in downtown Orlando is maxed out right now; but in certain outlying towns there is a need for Class A and B office space.

Our Hospitals and medical facilities can't seem to get enough land for that ever-expanding industry.

So, overall, I don't see a commercial-crash on the horizon in Orlando.
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Old 06-18-2007, 01:57 PM
 
Location: Heartland Florida
9,324 posts, read 25,491,930 times
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I wonder how much longer hospitals will keep expanding if retired people move to another state to wait for the undertaker. The locals don't have good health insurance either it seems.
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Old 06-18-2007, 02:02 PM
 
Location: 32082/07716/10028
1,346 posts, read 1,964,883 times
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Quote:
Originally Posted by tallrick View Post
I wonder how much longer hospitals will keep expanding if retired people move to another state to wait for the undertaker. The locals don't have good health insurance either it seems.
do you really think that hospitals only cater to retired people?
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