Economic Forecast: Broker sees office, industrial opportunities ahead in commercial real estate

Company: Susan Goldstein has facilitated transactions across Sarasota and Manatee counties for more than 15 years, totaling over $100 million. In the Sarasota area, an influx of new residents moving from other parts of the country is driving some commercial real estate activity. “Fundamentally the economics are those new residents need new services that are filled by commercial real estate,” says Goldstein. “Our market dynamics are very different than the global market. The strong residential market is the basis of our strong commercial market.”

Opportunities: While clearly more people than ever before are working from home, Goldstein sees opportunities in the office market. “I think any kind of change breeds opportunity for investors and business owners,” she says. “I think the biggest struggle will be to have realistic expectations on both sides. There are potential buyers that believe they can find steals. I don’t see a lot of steals out there. And then owners — sellers of properties — need to look at where the market is, where we believe it’s going and price appropriately and respond as we determine where the market is.”

The pandemic has encouraged work-from-home situations that have led some companies to downsize spaces, but Goldstein says offices will continue to be important for company culture and creativity. Some businesses might also need more square footage for social distancing. “There are businesses that are going to expand, and there are businesses that are going to shrink their footprint,” she says.