Are commercial real estate loans going to hurt banks?
Collman & Karsky Architects of Tampa has increased its staff by nearly a third since late 2004, trying to keep pace with surging demand for sleek new office, condo and retail buildings.
“The vacancy rate for office space is in the 10% range (or lower). As that approaches down to the 6% range, we’re going to be seeing more speculative office buildings,” says Rodney Collman, a principal at the firm, discussing local conditions. “We still have about 1,000 people a day moving into Florida. We’ve got a lot of housing needs.”