First-Half Investment Sales Down 33%

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.