What I'm Reading vrs. What I'm Seeing in Commercial Real Estate

05
Feb

What I'm Reading vrs. What I'm Seeing in Commercial Real Estate

Federal Reserve bank regularly polls business people in its 12 districts to get an anecdotal picture of how the economy is doing in each district. It publishes the results in a report called the Beige Book. The name is a holdover from the quant old days when the report was actually a book. Now of course the info is available online.

We here in St. Pete are in the 6th Fed District. Here's what the Beige Book said about commercial real estate in January.

"The outlook among District commercial real estate contacts remains fairly optimistic."

You read similar statements in various trade and local publications. Basically the commercial real estate looks "fairly optimistic."

Comme ci, comme ca. I'm making a living. It's better than it was.

However, I'm seeing a different picture.

Commercial Real Estate Better Than the Beige Book

Maybe it's the boomlet that our community is enjoying.

Maybe it's a flash in the pan.

Maybe it'll all change next month.

But I'm seeing a resurgence of demand. I'm seeing buildings that have been on and off the market for three and four years and ignored now getting a lot of attention.

Demand for Office Space?

I recently took a contract to an owner of a small office building thinking that I would be welcomed with open arms. She politely told me that she had two other offers! I was stunned. This building has attracted almost no interest in five years that I know of.

I am making no predictions here. Just reporting the facts. If the people from the beige book call ask me for my opinion, I'll tell them what I just told you.

 

Client Testimonials

From first meeting Peter, and throughout the office suite search process to the negotiations and execution of my office lease, Peter provided excellent communication and professional service. He took the time to really understand my office space needs and was very resourceful in providing timely, valuable information and sage advice. He helped make the whole process a pleasant and friendly one.

I appreciate everything Peter did for me and I highly recommend him to anyone searching for commercial real estate consultations and services.

Jerry Albrecht
Attorney at Law

We have known and done business with Peter for some 15 years and he has acted for our group of companies in several office, commercial and industrial leases.

He is a seasoned professional, great to work with, always on on top of whats going on in the market and acting not only as a broker but ongoing advisor.

He is a great negotiator and I always feel like we got the best deal possible when we close.

Finally he is a nice guy and like ourselves I'm sure has developed hundreds of other great relationships and friendships in the business.

Carl Dilley
President
Island Capital Management, LLC.

I have known Peter Fischbach for approximateloy 20 years both as a friend and professionally.

I have found his knowledge of Real Estate, marketing and business sense extraordinary.

He has a great knowledge of Architecture and recycling of old buildings for new uses.

I would recommend him for any professional Real Estate consultaions and related services.

Peter Goldhammer, Architect
Florida #0006567

I have known and worked with Peter for many years, and would not hesitate to recommend him for any real estate service.

Peter is well versed in all aspects of commercial real estate, but is particularly adept at negotiating leases and contracts.

Linwood Gilbert, MAI
President at Urban Realty Solutions

If you are looking to lease a commercial or business space Peter Fischbach is your man. We've worked with him for years and could not be more pleased. 

He is friendly, extremely well-versed in all of the services he offers, and has an unparalleled understanding of real estate in general and the idiosyncrasies of the local Tampa Bay market. 

The landlord might not be happy with the rent, amenities, and contract terms he will negotiate for you, but you and your company will.

Jake Braun
Marco Polo
Lead Developer
CIO