North Port Florida Commercial Real Estate Market

The city of North Port, is strategically located in Sarasota County between Tampa and Fort Myers. Over the past twelve years the community has experienced a steady increase in population. In fact, North Port is the leading growth city in the Bradenton-Sarasota MSA. The community was founded in 1959 and has the amenities and assets that make it an attractive location for new business, industrial, office and retail development. Coldwell Banker Sunstar Realty represents many commercial and residential properties in the North Port market as well as the surrounding markets of Port Charlotte, Englewood, and Punta Gorda. 

With the recent completion of the Coco Plum Village Shops, a Benderson Development Company project, the North Port Retail community is enjoying an economic shot in the arm. Many national retailers have committed to the development such as Sports Authority, Hobby Lobby, Panera Bread, Publix Supermarket, Pet Supermarket, to name a few. As a result, the North Port retail market is enjoying higher retail lease rates and the values of commercial properties continue to strengthen. 

The base retail lease prices are firming up with the market realizing rates from the $14.00 to $18.00 per square foot range for the smaller and mid-size quality retail centers and stand alone properties. This will undoubtedly help increase and stabilize values in the commercial market. The value increase will also spill over into the residential real estate market as well. 

Sustainable growth through effective master planning and infrastructure investment. Over the past several years the city has invested $1 billion in infrastructure investment. North Port's amenities include quality public schools, outstanding parks and recreation facilities and beautiful golf courses. The city also has excellent interstate access via i-75 and air travel is accessible from Southwest Florida International Airport and Punta Gorda Airport within 20 to 90 minutes. North Port has one of the lowest tax rates in South West Florida. 

I believe this states it best, "Our mission is to foster and encourage positive and measurable economic development through entrepreneurial thinking, collaboration and innovation. We do that by surrounding ourselves with business and community leaders who share our vision and passion to make North Port a strong, economically viable community." According to Peter Bartolotta Chair, North Port Economic Development Corporation.

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