"I am seeing an incredible sales market evolving here recently in both user buildings and investment sales," Heidrich tells GlobeSt.com. "I think many tenants are tired of seeing their savings dwindle in the stock market and are moving their funds into real estate and deciding to own rather than lease."
Additionally, he says investors "who typically invest in the stock market are doing the same thing. They have decided that it makes sense to earn a 10% return on real estate versus losing 10% to 20% in the stock market."
In the first half, Heidrich did $10.8 million in sales and $6.4 million in leases. The broker handled 32 transactions this year to date, giving him an average value per deal of about $531,250.
He did $50 million for all of 2001 but that volume included the $24 million sale of the trophy 2,130-acre Magnolia Creek property on Interstate 4 near Walt Disney World. Not counting that deal, Heidrich's total production in 2001 would have been $26 million or $13 million for the first half.
"Commercial real estate activity in the Central Florida market since Jan. 1 is recovering and I think most of us expect the market to resume its former pace before the year is out," Heidrich says.
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