MANATEE -- Industrial real estate vacancies are down and lease rates are up in Manatee and Sarasota counties.
During the first quarter of 2014, vacancy levels were about as low as they've been over the past five years in both counties, according to statistics compiled by Coldwell Banker Commercial NRT. Sarasota industrial properties showed a vacancy rate of 6.6 percent, while Manatee County's industrial building universe was 8.2 percent empty during the quarter.
The low vacancy kept rates on a recovery course in both markets. Sarasota had the higher rates, averaging $6.07 per square foot triple net. That's down slightly from $6.11 in the last quarter of 2013, but still better than the market low point two years ago.
Manatee County has seen lease rates recover more dramatically. After bottoming near $4.35 a square foot triple net three years ago, the first quarter of 2014 mirrored the previous quarter at an average of $5.17.
Both markets saw empty space get filled. Over 381,000 square feet of space came off the market in the first quarter in Manatee County. Sarasota County posted over 43,000 square feet that was absorbed by industrial users in need of more space.
LWRBA workshop to focus on PR, marketing
LAKEWOOD RANCH -- The Lakewood Ranch Business Alliance, the Central West Coast Chapter of the Florida Public Relations Association and the Greater Sarasota Chamber of Commerce are holding a half-day workshop on public relations and marketing solutions for small businesses. It is scheduled from 8 a.m. -1:30 p.m. May 14 in the Fete Ballroom at Polo Grill, 10670 Boardwalk Loop.
There will be two morning breakout sessions, lunch and a keynote speaker. Members of the sponsoring groups can attend for $55; non-members, $65; lunch only, $25 or $35, respectively. To register, go to www.lwrba.com.
Coldwell Banker ranked No. 1 by Real Trends 500
SARASOTA -- Coldwell Banker Residential Real Estate has been ranked No. 1 in Florida for both closed transaction sides and sales volume based on 2013 sales results, according to the Real Trends 500 annual report, and No. 2 in transaction sides and sales volume in Sarasota. With 11 offices in Sarasota and Manatee counties, Coldwell Banker closed more than 5,500 transaction sides and $1.53 billion in sales volume in Sarasota-Manatee in 2013. Parent company NRT LLC also ranked as the No. 1 real estate brokerage firm in the United States based on sales volume and transaction sides for the 17th consecutive year.
Wilde Jaguar wins top industry award for 2013
SARASOTA -- Wilde Jaguar of Sarasota has again won Jaguar North America's most prestigious award, the Pride of Jaguar, for exceptional performance in 2013. This is the 11th year that Wilde Jaguar has earned the Pride of Jaguar Retailer Excellence award. Pride of Jaguar winners have excelled in several core elements of business and have proved to be outstanding in their business practices, according to a press release.
Wilde Jaguar is one of 16 Jaguar retailers chosen this year based on three overall categories: customer advocacy, sales and business excellence.
"Wilde Jaguar is being recognized as a leader in their business practices, sales satisfaction and customer service skills.
The 16 Jaguar dealers have set high standards," said Joe Eberhardt, president, Jaguar Land Rover North America, LLC. "Their dedication to providing exceptional and unique overall experience for our customers is a reflection of our respect and pride we take in customer loyalty."