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Saunders' commercial chief steps back
The head of the commercial division at one of the Gulf Coast's most recognizable residential brokerage firms has stepped down from management to focus on executing investment sales.
Dennis Dahm, director of Michael Saunders & Co.'s commercial group since 2006, said he made the move to “retire” from managing to provide clients with investment expertise.
“I've gotten to know a fair number of investors who want me to provide them with real estate investment assistance,” says Dahm, 66. “And I've reached an age where I wanted to slow down a little bit. I also wanted to get back to managing just one person — me.”
Dahm's management stint was his second with Saunders. He had previously led the group from 1987 to 1990. In all, he's spent four decades in the real estate business.
Since stepping back, Dahm has failed in one respect — slowing down. Already in 2015, Dahm has sold $25 million worth of Southwest Florida real estate, including the five-story Ringling Tower office building in downtown Sarasota. His goal for the year? $70 million.
As for Saunders, it continues to search for Dahm's replacement. For now, firm president Drayton Saunders — son of founder Michael — has taken the commercial division under his wing.
UF commercial index hits near decade high
Pushed by anticipated higher rents and occupancy, stable cap rates and yields among most property types and a positive investment outlook, the University of Florida's Commercial Real Estate Sentiment Index rose in the first quarter to its highest level since summer 2006 — 7.45 out of 10.
By comparison, the index came in at 6.9 on the 10-point scale in the comparable quarter of 2014, and it reached 7.2 in the final quarter of last year.
The Kelley A. Bergstrom Center for Real Estate Studies, Warrington College of Business Administration's survey polled 97 businesses spanning 13 urban areas in Florida and a total of
15 different property types - making it among the most extensive looks at real estate of its kind on a quarterly basis.
- K.L. McQuaid
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