Lease rates on the rise in Sarasota

SARASOTA — The Gateway Professional Center in Sarasota, with seven recent new and renewed lease agreements, has rebounded significantly from the downturn, part of an overall uptick in the commercial real estate market.

Pointe Group Advisors, a Miami-based brokerage and commercial real estate management firm, recently announced seven new leases at Gateway, according to a release. Kelley Matheson, a leasing broker associate with Pointe Group, says the market, in general, is “changing from a tenant's market to more of a neutral market, with concessions easing.”

Adds Matheson: “As we see more absorption, we also see asking rental-rates starting to rise.”