Part 3. : OUTLOOK

Though Savannah’s economy is projected to be a relatively flat in 2011, market activity and inquiries do hold promise for the future.  Savannah Economic Development Authority’s new President and CEO, Steven Weathers, stated during a recent presentation that they have a healthy number of sizeable site searches considering our area.

Nationally, the primary coastal markets (New York, Boston, DC, San Francisco, San Diego, etc.) have seen the majority of improvements in commercial real estate.  This has been caused by institutional buyers buying blue chip investment assets.  Per a recent National Real Estate Investor survey, low interest rates and a surge in investor confidence should result in private investors becoming more active in secondary and tertiary markets like Savannah in 2011.  Multi-family and hotel developments will garner the most attention nationally.

Rex Benton is Savannah Commercial Real Estate agent with NAI Savannah, the commercial division of Mopper-Stapen, Realtors and is a contributing columnist for “BiS-Business In Savannah” weekly business publication and is an active blogger. 912-358-5600 Office Space, Retail Space, Industrial Space, Investment Real Estate Sales