NAPLES, FL—As the number of distressed commercial real estate properties in the Southwest Florida market continues to decline, assets are resetting to new market values. GlobeSt.com caught up with Jim Garinger, senior managing director and principal at Colliers International Southwest Florida, to learn more about this trend.
GlobeSt.com: In which asset classes are market values most quickly trending up in Southwest Florida?
Garinger: Southwest Florida's multifamily led the way into the downturn several years ago and it was also the first asset class to sell out at distressed values. The improving economy has resulted in more people looking to rent apartments, which has increased multifamily occupancy and contributed to a strengthening market value.
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