Real Estate Practitioners Weathered the Year, Look for Clearing Skies

The CEO of a local law firm has been helping a client look for 4,000 to 6,000 square feet in downtown Tampa. That should be easy in what has been an extended “tenant’s market.”

In fact, the search hasn’t been as easy as anticipated. That’s good news for office brokers and the commercial real estate sector in general.

The market will continue to strengthen, said Cheri M. O’Neil, senior vice president and branch manager of Studley, a tenant representation firm.

“Although a tightening market may mean more bullish landlords, it should also result in more solvent ownership, therefore offering more security for tenants.” O’Neil said. “It’s heading for equilibrium in the market which is good.”

Rachel Wein, owner of WeinPlus Real Estate Advisory Services in St. Petersburg, also believes better days are ahead as long as small businesses can get access to credit and stay open.

Published in Tampa Bay Business Journal