SVN-Miller 2016 Commercial Real Estate Outlook

Sperry Van Ness – Miller Commercial Real Estate with offices in Salisbury, MD, Annapolis, MD, Bethesda, MD, Seaford, DE, and Wilmington, DE recently held their 2016 Commercial Real Estate Forum at the Perdue School of Business in Salisbury, MD. The forum was focused on providing relevant information to real estate investors regarding economics, community development and market statistics.

The event drew nearly 200 commercial real estate investors, and was sponsored by Pohanka, Allen & Shariff, W.R. McCain & Associates, The Whayland Company, BB&T, Twilley, Rommel & Stephens, Delmarva Power, Comcast Business and Bank of Delmarva. The forum featured Guest Speaker Jake Day, Mayor of the City of Salisbury, and Keynote Speaker Anirban Basu of Sage Policy Group.

Mayor Day’s speech focused on the revitalization of Downtown Salisbury and the new 20-year Downtown116SperyVNesskp_036 Master Plan that was recently revealed. According to Day, retail density and residential density is needed to take Downtown Salisbury to the next level.

Keynote speaker Anirban Basu returned to the forum for the fifth year and summarized his presentation by saying, “While current economic activity remains decent, particularly with respect to the U.S. labor market, cracks in the economic recovery’s foundation have begun to appear. Much of this is traceable to weakness in the global economy, which has helped to translate into plummeting commodity prices and declining investment in related segments. Corporate earnings also have become more problematic. The good news is that Maryland’s economy has continued to improve, including on the Eastern Shore. The current year should be a solid one for Salisbury, but the 2017/2018 outlook is decidedly murkier.”

Wesley Cox, Senior Advisor and Moderator of the event said, “Inventory levels are down and for the most part we have seen the stabilization in property values, and in some product types we’ve seen rising values. There have been an increasing number of cases of buyers or tenants waiting to act but when they do someone else has already gotten the deal. We have begun to see a shift with seller’s holding a stronger hand as

fundamentals have steadily improved year after year. If you are a buyer or tenant now is the time to act while y116SperyVNesskp_128ou can still capitalize on relatively good deals that remain in the market.”

Attendees had very positive feedback about the forum: “The presentations were dynamic and insightful and I feel I benefited from attending.” “The facility is fantastic, the networking opportunities are plentiful and the content is terrific.” “I felt very optimistic after the forum.” To be added to our invitation list for next year or to inquire about sponsorship opportunities for the 2017 Commercial Real Estate Forum, contact Nicole Abresch at Nicole.abresch@svn.com or call our office at 410-543-2440.

SVN – Miller Commercial Real Estate, with offices in Salisbury, MD, Annapolis, MD, Bethesda, MD, Seaford, DE, and Wilmington, DE and provides advisory, brokerage, consultation, leasing services, and asset and property management to clients in Maryland, Delaware, and Virginia. Our day-to-day goals are to consistently provide spectacular customer service, to be on the cutting edge of technology and innovative marketing, and to provide the vision needed to achieve our clients’ real estate investment goals.

SVN-Miller is an Accredited Management Organization® (AMO). Our team includes a highly-trained staff of Certified Property Managers® (CPM®), Brokers who hold the prestigious Certified Commercial Investment Member (CCIM) designation, and members of the Society of Industrial and Office Realtors (SIOR).

For information on how to make SVN – Miller Commercial Real Estate the key to your success, contact 410-543-2440 or visit our website www.SVNMiller.com.

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