Tampa, FL (Feb. 23, 2017) – In a year defined by a strong commercial real estate market, SVN Florida transactions in 2016 totaled $966 million, an increase of 17 percent from the previous year ($825 million), the company announced this month at the SVN International annual conference in Tampa.
Although the company closed a number of deals in the $10 million to $44 million range, the majority of SVN Florida’s 2016 transactions were within $500,000 to $10 million, said Jerry Anderson, CCIM, executive managing director of SVN Florida. He said the “sweet spot” continues to be representing banks, equity funds and private investors or buyers who purchase for their own use. The majority of these deals are within the $1 million to $10 million range.
SVN Florida also reported that 16 advisors/firms from its roster won national awards in 2016. Four of its firms were among the Top 13 nationally for SVN International: SVN|SouthLand in the Panhandle (5), SVN Florida Inc. in Orlando and Jupiter (6), SVN Commercial Realty in Fort Lauderdale (9) and SVN Commercial Advisory Group in Sarasota (13).
Michael Carro, CCIM, was the No. 1 producer among SVN Florida’s more than 90 advisors, which placed him No. 3 nationally among SVN advisors. Carro is the local managing director for the Pensacola market with SVN|SouthLand Commercial with offices across the Florida Panhandle in Pensacola, Panama City and Tallahassee.
Rounding out the top five SVN Florida advisors were Joel Kattan in Miami (No. 2 in Florida, 15 nationally), Miguel de Arcos in Orlando (No. 3 in Florida, 30 nationally), Matthew Rotolante in Miami (No. 4 in Florida, 32 nationally) and Les Bryon, SIOR, CCIM, in Fort Lauderdale (No. 5 in Florida, 33 nationally). The geographical disparity of the advisors is evidence that SVN Florida has the state covered from top to bottom in all aspects of commercial real estate.
SVN Florida continued its aggressive expansion in 2016, opening offices in Ormond Beach, New Smyrna Beach and Fort Myers. Expansion for 2017 is focused on Naples, Port Charlotte, Tampa, Stuart and Jacksonville, Anderson said.
The outlook for 2017 appears to be promising. Most financial analysts predict the Federal Reserve may delay its anticipated interest rate increases as the economic impact of Donald Trump’s presidency unfolds.
“Although we could see moderate economic growth in 2017, low interest rates likely will continue to sustain demand for commercial real estate assets,” Anderson said.