Search
 

Lack of Intense Buyer Interest Slows Investment Sales Activity

BOCA RATON, FL-Today's real estate investment activity in South Florida is substantially different than it was as recently as nine months ago, says one area broker. Marketing a property is now often like running an on-line auction.

By Harold Kelman | Updated on October 04, 2000

BOCA RATON, FL-Gone are the days when REITs would rush to buy just about any piece of investment real estate offered. In their wake came deal-hungry institutional pension funds.

Since about the first of this year, however, brokers like Peter Filomena, vice president in charge of investment sales at Trammell Crow Co.’s regional office here, have been bumping into the kind of market equilibrium that tends to lengthen the negotiating process.

“Buyers will buy if it’s a good deal, and sellers will sell if they get their price,” Filomena says. But with mostly healthy commercial occupancy levels at steadily rising rents in much of the tri-county marketplace, property owners tend to be less interested in selling unless they get offers too good to reject.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.