Commercial Builders Have A Competitive Advantage In Down This Market
Despite the current downturn in the residential real estate market, and mortgage industry woes nationwide, Orlando’s commercial real estate sector is alive and well, primarily due to investors eager to fulfill a continuous and growing demand for Orlando commercial real estate, particularly office and retail space.
A prime example of the confidence shown in Orlando, Fl. Commercial real estate is the recent purchase by the Maryland based realty firm Bavar Properties Group of a 34 acre parcel close to the Orlando International Airport, where a 375,000 square foot office complex is scheduled to be built. Additionally, construction has begun on a 336,000 square foot multi-use development project of office and retail space in the Lake Nova area, that further demonstrates the vibrancy of the Orlando commercial real estate marketplace, and the optimism shown by investors who remain confident in the long-term prospects of the Central Florida region as a whole.
As the residential market continues to falter, many builders specializing in this segment of the industry are looking toward the commercial market, and possibly will compete on future projects. However, at this stage of the game, it appears that commercial builders have little to fear from residential builders who are considering a move into the commercial sector to offset the stagnant prospects in residential housing. The problem many of these builders will encounter, will be in obtaining funding from lenders wary of financing construction firms with little or no experience in commercial project construction.
To find out more about new commercial developments that are in the planning phase please visit http://www.cflcommercialre.com/commercial-real-estate-blog/
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Bennet Sebastian Article Source: http://EzineArticles.com/?expert=Bennet_J_Sebastian |
