Unfortunately, the office, commercial and retail sectors are all now being hit by the same downturn as the housing sector.  Florida is looking at an almost 16% statewide vacancy rate (source: Florida Trend).  If you have empty space, you have already felt it.  Each Economist has their own predictions as to when it will come back, level out, etc…..we will only know which one is right when it is over.  Unfortunately, that is the problem with economic predictions. 

While reading the article, “Where’s the Bottom?” in the January edition of Florida Trend, I saw  a nice chart detailing vacancy rates across the state and thought I would share it with you.  No, I am not doing it to depress you, just to give you facts.  It is the wise business person that takes the information, changes the strategy and succeeds in a down market.