Broker's Blues

After battling government bureaucracies for almost three years, Michael Sporer's commercial real estate project in Manatee County, just east of Interstate 75, was finally ready for tenants last year.

There was only one problem: There were precious few tenants to be found last spring and summer, given the looming recessionary atmosphere His long sought certificate of occupancy for the industrial and flex space park, Creekwood Commons East, became like a certificate of 'oh- my-gosh, what did we just do?'

“We came out at absolutely the worst time, during the teeth of the recession,” says Sporer. “But we had a strategy: We didn't want to be the last to lower prices. We wanted to be the first.”