Andrew Falde – Commercial Real Estate Marketer

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Tucker Holdings of SWFL LLC purchased 1.48 acres of land at Ben C. Pratt/Six Mile Cypress Parkway and International Center Boulevard in Fort Myers from Lee Cirque LLC for $900,000. Jim Garinger, CCIM, SIOR; Andrew Falde, CCIM; and Karen Johnson-Crowther of Colliers Arnold brokered the transaction.

In the second quarter of 2009, 155,000 square feet of new shopping center space was delivered in Lee County. In addition, 101,000 square feet of space was vacated in the second quarter for a total of 256,000 square feet of vacant shopping center space in the county.

There is currently an additional 182,000 square feet of shopping center space under construction, some of which includes failed projects that will not make it to the market this year.

Lee County shopping center total vacancy reached 10% in the second quarter, up from 9% in the fi rst quarter and 7.1% one year ago. We expect vacancy to increase in the next quarter and absorption to reverse some as tenants prepare for season.

Retail lease signings that occurred in the second quarter include:

The Furniture Solutions leased 11,715 square feet in Jamaica Bay Plaza on US 41 in Fort Myers

BC’s Furniture Exchange leased 4,008 square feet on Trails Edge Boulevard in Bonita Springs

Dollar & Beyond leased 2,600 square feet on SW Pine Island Road in Cape Coral

Read more at: www.JimGaringer.com (click on market reports)

Cast-Crete leases over 7,000 sq ft of warehouse space located at 3276 Commerce Parkway, North Port, FL. Jim Garinger, CCIM, SIOR and Andrew Falde, CCIM of Colliers Arnold negotiated the transaction.

Cyber-Rides Inc. leased 4,993 square feet of office space at Parkway Plaza located at 10231 Metro Parkway in Fort Myers from Kuehner Properties. Jim Garinger, CCIM, SIOR and Andrew Falde, CCIM of Colliers Arnold, represented the landlord

At present we are seeing several upticks in the market, particularly in leasing as landlord and tenant expectations are beginning to reach equilibrium. Some bright spots in the market are medical, education, and discount retailers as they continue to expand and take advantage of market conditions.  View our complete market report at www.JimGaringer.com (click on market reports).

Jim Garinger, Jim Tamblyn and Andrew Falde have been awarded the exclusive listing for the sales and leasing of the buildings within the Gulf Coast Medical Park.

Currently under construction, Gulf Coast Medical Park consists of two single-story and two two-story medical office buildings totaling 54,000± sq ft, with delivery scheduled for the fourth quarter of 2009. The project is located on 4.8± acres on Plantation Road, adjacent to the recently expanded, 349-bed Gulf Coast Medical Center.

Gulf Coast Medical Park serves as the Plantation Road entrance to Gulf Coast Medical Center by providing direct vehicle access to the hospital’ s southeast parking lot. Gulf Coast Medical Park is located on the west side of Plantation Road, just south of Daniels Parkway in Fort Myers, Florida.

More information and flyer available here: http://listing.loopnet.com/16309837

June 26, 2009 – (Fort Myers, FL)  Overall, each commercial segment remains in the recessionary cycle with a combination of increasing vacancy, contracting rents, and excess deliveries. Out of all the commercial segments office is showing the best signs of a turn around with positive absorption and a slowing decline in asking rents. 

Throughout 2008 we saw long contract periods as buyers were uncertain if prices would fall further, however a recent observation of transactions throughout Florida reveals that deal cycles are shortening. The trend shows that sellers are more flexible on pricing in exchange for shorter contract periods. In addition, buyers are accepting shorter contracts because they believe today’s values may not be there for long. 

Our team has been experiencing an increase in call volume from tenants and investors in acquisition mode for commercial properties. Many users are new start ups looking to meet needs in the changing marketplace. Others are businesses which have outlasted the competition and their confidence is leading them to take advantage of low real estate prices. 

With the market meltdown more than eight months in our rearview mirror we are experiencing the “new normal.” The deals negotiated since then have paved the way for new lending standards and the rapid shift in value is becoming more and more the accepted reality. 

Wise investors are focusing on properties in long-term established submarkets and away from future growth areas. Corridors such as College Parkway, Metro Parkway, South Cleveland Avenue, and others will see a faster turn around than areas such as Estero, Lehigh Acres’ Westgate, and the Pine Island Road corridor, all of which grew rapidly out of false demand.

For detailed information, analysis, and interpretation view our market reports: click here

Source: FREJ.net

FORT MYERS – April 2009 home sales were up 105.5% year over year, with 1,406 existing single-family homes sold compared to 684 in April 2008, according to the REALTOR Association of Greater Fort Myers and the Beach Inc. Pending sales improved 60.2% year to year, with 2,368 single-family homes pending versus 1,478 a year ago.

Of significance is the drop in the number of single-family homes listed on the MLS. At the end of April, there were 8,665 active listings of existing single-family residential properties compared to 12,324 a year ago, a decline of 29.7%. The supply of single-family homes shrunk to 3.7 months, which is less than half of what it was a year ago, when the supply was 8.3 months. The median price continues to be affected due to the abundance of REO properties in the market.

In April, REOs represented 65.9% of all single-family homes sold in Lee County, and overall the median price of existing single-family homes was $80,000. Many of these properties are selling for more than the list price. There appears to be two prevailing reasons for this: one, many of today’s buyers are qualifying for FHA and VA loans, allowing for closing cost assistance; and two, there is more competition for these homes as multiple offers are being submitted on these bank-owned properties.

As of the end of April, the Fort Myers area has exceeded sales for all of 2007

Gulf Coast Medical Park, LLC purchased 4.8 acres of land in Fort Myers, Fla., from Intermed II, LLC for $2.725 million.

Jim Garinger, Andrew Falde and Karen Johnson-Crowther of Colliers Arnold represented the seller in the transaction. Magnus Karlstedt of MK Construction and the late Robin Wright of Woodyard and Associates represented the buyer.

Located on Plantation Road, the land is adjacent to the new Gulf Coast Medical Center expansion on Daniels Parkway. Gulf Coast Medical Park will be a 54,000-square-foot medical office park consisting of four buildings.

Fort Myers, FL - Grant Miller, a Business Management Major at Florida Gulf Coast University , recently sought out a summer internship with the Fort Myers office of Colliers Arnold Commercial Real Estate.  When asked what his goals are for the internship, Miller said “I want to invest some of my summer time and learn from real experience with a successful team.”  Miller will be working three days a week with Jim Garinger and Andrew Falde and taking summer classes at Florida Gulf Coast University  the other two days.  Miller will observe and participate in the day to day operations of researching and marketing commercial real estate.

Study says rents down, occupancy up in region
By DICK HOGAN
dhogan@news-press.com

Rents fell and occupancy increased in Southwest Florida apartments in the first quarter at a faster pace than almost anywhere else in the state, according to a report released today. The report by RealFacts, a Novato, Calif.-based data company, provides statistics on apartment complexes with 100 or more units.

Andrew Falde, a commercial real estate agent with Colliers Arnold in Fort Myers, said he investigated the rental market while preparing to negotiate the sale recently of the Vogue apartments in Fort Myers.

For nearby complexes, he said, “Pretty consistently they were along the lines of, ‘We’ve had a lot of increase in occupancy. We dropped our rent a lot and we’re working hard for every one of them but we’re filling up.’ “

The high number of foreclosures is apparently the cause of the trends, Falde said in a recent report on the market. “Since the tenants are tired of being kicked out of foreclosed homes, they return to apartments which they view as a more tried and true approach to renting.”

The Fort Myers-Cape Coral area ranked third in the country in the rate of foreclosures, according to a report released Wednesday by RealtyTrac, an Irvine, Calif.-based foreclosure data tracking service. An average apartment in the Fort Myers-Cape Coral area went for $846 a month, down 6.8 percent from a year earlier.

That rate of decline makes Lee 14th in the state, and gives it a sharper rate of decline than anywhere but Naples-Marco Island, 15th at $808 with a drop of 8.6 percent, and Port St. Lucie, which at 16th had the fastest dropping rents in the state: down 9.7 percent at $869, according to the RealFacts report. When it came to occupancy growth, Naples-Marco led the state with a 12.2 percent increase to 92.1 percent, a rate below only Miami-Fort Lauderdale, which was No. 1 at 92.5 percent.

Fort Myers-Cape Coral was second in occupancy growth with an increase of 8.9 percent. The occupancy rate was eighth at 88.1 percent. Nationally, RealFacts found that rents and occupancy continued to go down. Rents rose in only three metro areas: Houston at 0.8 percent, Oklahoma City at 0.3 percent and Vallejo-Fairfield, Calif., at 0.2 percent.

Caroline Latham, CEO of RealFacts, said occupancy is going down because unemployment is going up. “A certain number of people have lost their jobs and decided they can no longer remain independent households,” she said. “We’re seeing the number of people per household going up. Young people, and I’m afraid that means up to 40, are moving back to mom and dad.”

Another trend is for people in their 20s to share an apartment with roommates rather than have a place of their own, she said. Additional Facts apartments by the numbers $846 is the average monthly rent in Fort Myers-Cape Coral $808 is the average monthly rent in Naples-Marco Island 14th out of 16 metro areas in Florida is where Fort Myers-Cape Coral ranks in rent growth: down 6.8 percent from a year earlier.

Naples-Marco Island is 15th, down 8.6 percent. 2nd is where Fort Myers-Cape Coral ranks in occupancy growth with an 8.9 percent increase to 88.1 percent. Naples-Marco Island is first with a 12.2 percent increase to 92.1 percent.