ORLANDO, Fla., Oct. 10, 2018 (GLOBE NEWSWIRE) -- Cite Partners, a Central Florida commercial real estate firm, today announces a significant milestone in the company’s growth as its seen a 46 percent increase in the transaction value of deals closed in the first three quarters of 2018, compared to those closed in 2017 during the same timeframe. It's significantly increased the total number of deals and transaction values in the past nine months, putting the firm ahead going into the last quarter of the year.
The number of deals Cite Partners closed between January and September 2018 totaled 208 deals, including sales and leases of industrial, retail and office real estate. The transaction value for the 2018 deals totaled $220,195,938, representing a square footage of 3,304,974. This is a 46 percent increase compared to the first nine months (Jan. 1 – Sept. 30) of 2017, when Cite Partners closed 139 deals with a transaction value of $117,577,720, and 2,554,259 total square feet.
“We’re extremely proud to achieve such a significant increase in deals and transactions in the first nine months of this year,” said Wilson McDowell, managing director, principal for Cite Partners. “These numbers not only represent the strength of the current commercial real estate market, but also the work ethic and determination from each member of the Cite team.”
As Cite Partners heads into Q4 of 2018, the firm is well positioned to easily surpass last year’s total of 195 deals. With the commercial real estate industry currently booming in Central Florida, this increase in the number of deals directly reflects the current state of the market and projected demand over the next several quarters.
“With Florida’s hot summers, Q3 is typically slower, but the market is currently healthy and we expect to see a continued increase in deals throughout the remainder of the year,” said Matt Sullivan, managing director, principal for Cite Partners. “Developers are continuing to build at a rate the market can handle, and the strength of this market means the outlook is excellent for us to continue to deliver strong results in deal closures.”
For more information on Cite Partners and the firm’s current listed properties, visit citepartners.com.
About Cite Partners
Cite Partners, founded in June 2014, is a commercial real estate company located in Orlando that offers brokerage, consulting and management for clients in a wide array of industries. Cite was founded on the idea that taking a team approach to a client’s success is the future of commercial real estate. Cite’s vision is to be able to create a competitive, rewarding and results-oriented environment that encourages strong internal and external relationships and allows the company to deliver exceptional results to clients. Cite also releases quarterly reports detailing the state of the commercial real estate industry in Central Florida. For more information and to view the reports, visit www.citepartners.com.
Media Contact
Hannah Young
Uproar PR for Cite Partners
HYoung@uproarpr.com
321-236-0102 ext. 233