SVN | Miller Commercial Real Estate with offices in Salisbury, MD, Bethesda, MD, Wilmington, DE and Seaford, DE recently held their 2017 Commercial Real Estate Forum at the Guerrieri Academic Commons at Salisbury University. The forum was focused on providing relevant information to real estate investors regarding economics, community development and market statistics.
The event drew nearly 250 commercial real estate investors, and was sponsored by Pohanka, M&T Bank, Twilley, Rommel & Stephens, The Bank of Delmarva, Allen & Shariff Engineering, W.R. McCain & Associates, Mid-Atlantic Farm Credit, Coastal Association of Realtors, Worcester County Economic Development, and Avery Hall Insurance. The forum featured Guest Speaker Jake Day, Mayor of the City of Salisbury, and Keynote Speaker Anirban Basu of Sage Policy Group. The event also included an Economic Development panel with Somerset representative Danny Thompson, Worcester representative Merry Mears and Wicomico representative Dave Ryan.
Mayor Day’s speech focused on the economic realities of Salisbury, and what steps need to be taken to implement our future plans successfully. Keynote speaker Anirban Basu returned to the forum for the sixth year and summarized his presentation by saying, “At long last, the economic recovery that begin in mid-2009 nationally has found its way to the Maryland portion of the Delmarva region. Economic performance improved in both Wicomico and Worcester counties recently, with demand for housing on the rise and job growth accelerating. The current year is shaping up to be even better from a real estate perspective, particularly if certain pro-growth federal policy proposals are implemented and interest rates remain well behaved.”
Wesley Cox, Senior Advisor and Moderator of the event said, “2016 was a very robust year in commercial real estate. In the Wicomico, Worcester, and Somerset County region, commercial real estate sales volume was up 100% from last year, the number of sales was up nearly 20%, and inventory was down 40% from 6 years ago. The fundamentals have shown us that we have not only seen the stabilization of values, but we have started to see an increase in values for the first time in several years. The market is very segmented so this does not hold true for all asset types, but in some cases Seller’s now ‘hold the cards’ with more negotiating power than buyers and therefore it’s becoming more of seller’s market.”
To be added to our invitation list for next year or to inquire about sponsorship opportunities for the 2018 Commercial Real Estate Forum, contact Nicole Abresch at Nicole.firstname.lastname@example.org or call our office at 410-543-2440.
SVN | Miller Commercial Real Estate, with offices in Salisbury, MD, Bethesda, MD, Seaford, DE, and Wilmington, DE is a financial services firm specializing in commercial real estate. We provide advisory, brokerage, consultation, leasing and asset and property management services 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).