Leasing veteran foresees market turnaround

Commercial real estate broker Barry Seidel, one of the more prominent agents in several areas south of downtown Sarasota, won't buy into the doom-and-gloom line that permeates the region.

In fact, Seidel says fall and winter could be a return to glory days, or at least the beginning of a revival. “I think the pendulum is about to swing back the other way,” says Seidel. “I'm expecting to have a real good season.”

So good, Seidel will expand his office space by nearly 300%, from 1,250 square feet to 4,800 square feet. His firm, American Property Group of Sarasota, recently bought the Prudential Palms Real Estate office at 7750 S. Tamiami Trail. Seidel paid $380,000 for the property, a price reflective of both the soft market and Prudential Palms' recent contraction. (See Business Review, Aug 29.)