This article from Business Observer offers insight from commercial real estate leaders on how the market is expected to perform in 2021. See below for a sample of quotes from Franklin Street’s experts.
On Industrial:
“Industrial properties have outperformed every asset class save for residential in the greater Tampa Bay area, because of the rise of e-commerce, and I don’t expect that to end anytime soon,” says Pat Kelly, regional managing partner at Franklin Street, a Tampa-based commercial real estate services firm.
On Multifamily:
In the Tampa Bay area, multifamily starts and transactions are expected to continue unabated in 2021, thanks to abundant available equity and financing opportunities available from the government sponsored Fannie Mae and Freddie Mac.
As a result, investor interest is almost certain to keep capitalization rates compressed throughout the new year, says Darron Kattan, Franklin Street’s managing director of multifamily sales.
As a result, investor interest is almost certain to keep capitalization rates compressed throughout the new year, says Darron Kattan, Franklin Street’s managing director of multifamily sales.
On Retail Sales:
John Tennant, senior director of retail investment sales and Franklin Street, says the second half of the year should be especially robust for single-tenant properties and grocery-anchored centers.
“I think there will be a huge gain in transactional volume for retail properties, in part because there’s a lot of capital out there,” Tennant says.
On Retail Leasing:
“I think retail is going to come back roaring,” says Monetha Cobb, Franklin Street’s senior vice president of retail leasing. “People want to be together, they just want to feel safe doing it.”
