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First-Half Investment Sales Down 33%

ORLANDO-Institutional buyers sank $399 million into Central Florida investments in the first six months of the year versus $590 million in the comparable 2001 period, a new Grubb & Ellis Co. market survey shows.

By Alex Finkelstein | Updated on October 21, 2002

ORLANDO-Grubb & Ellis Co. Florida regional vice president Jeffrey S. Sweeney isn’t letting statistics dim his view of Central Florida’s potential for renewed investment sales in 2003 and 2004.

First-half investment sales are down 33% as institutional buyers logged $399 million in Hillsborough, Pinellas, Orange and Seminole counties compared to $590 million in the comparable 2001 period, a new Grubb & Ellis market survey shows.

But Sweeney sees a light in the darkened data tunnel. “Although overall sales have declined, office investment sales have increased as a percentage of the total from this time last year,” he says.

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