Newsletter
Key West Commercial Real Estate
June 21, 2019 | Keith Bland & Kent Ducote

​Tropical Inn is an extraordinary boutique hotel centered on world-famous Duval St on almost 1/4 acre of land. Equidistant from the Mallory Sunset Pier and the Southernmost Point Buoy, this property is perfectly located. The 11 exquisitely appointed guest rooms are each unique and they are situated in 4 historic homes dating back as far as 1860 and in the heart of Key West’s Old Town…

June 21, 2019 | Keith Bland & Kent Ducote

Duval Sqaure Listings Units C10

Duval Square is a vibrant outdoor mall with restaurants, galleries and businesses located on the first floor and residential units on the second floor. Located on upscale Upper Duval Street, Duval Square offers locals and visitors alike a wonderful destination for fine dining, shopping and easy & plentiful parking. Duval Square is located in the ‘X’ Flood Zone (high and dry!).

The Duval Promenade is a new feature to Upper Duval. On weekend nights, Duval Street closes to traffic and becomes a pedestrian mall. Throughout 2019, it is expected that the Promenade will expand to most of Upper Duval including Duval Square.

June 20, 2019 | Keith Bland

When the year-end 2018 Smith Travel Research (STR) report for Key West and the Florida Keys was released, it lent credence to the fact that the downward market correction of the past two years, due to both a large number of new and renovated rooms coming online and Hurricane Irma, is turning around—although the effects of the national news incorrectly reporting major hurricane damage in Key West lingered. STR is the gold standard in hotel data benchmarking for more than 6.8 million hotel rooms worldwide and provides valuable information for the Key West lodging market. Let’s once again review the events of the past few years concerning our market and then take a look at the 2018 report and reports from mid-year 2019 and attempt to put it all in perspective.

June 18, 2019

​WASHINGTON (AP) – June 18, 2019 – Jerome Powell has tantalized the financial world with the prospect that the Federal Reserve he leads may soon cut interest rates for the first time in over a decade.

Probably not quite yet, though…

June 15, 2019 | CIRE Magazine May/June 2019 and edited by Kent Ducote

​The following article titled “International Beat” provides interesting statistics and information on international real estate. The commercial team at Truman & Co has the global reach to assist you. Our international networks of top agents include the CCIM Institute (Certified Commercial Investment Member) commercial real estate’s global standard for professional achievement, the CIPS network (Certified International Property Specialists) and Leading Real Estate Companies of the World. It makes a difference. When seeking investments outside of your market, you want the most experienced and professional agents guiding you along the way. Keith and Kent will pair you with the best. For more information, please visit our referral website.

International Beat

Global Markets to Watch

Global capital flows continue to grow, with 97 percent of respondents to Deloitte’s “2019 Commercial Real Estate Outlook” planning to increase capital commitments in the next 18 months. Investors in the United States and Germany plan to increase commitments by 13 percent in that window, with parties in Canada (12 percent), China (12 percent), and Hong Kong (12 percent) also feeling optimistic. Mixed-use properties will see the biggest jump in investment at 14 percent, followed by nontraditional at 13 percent.

June 14, 2019

Keith Bland and Kent Ducote formed their commercial team in 2012 and have consistently been one of the top commercial teams in Key West having brokered commercial real estate sales with a transaction value $110,000,000. Their focus has been on the sale of boutique hotels in Old Town Key West and they have also brokered retail, multi-family, vacant land and office properties.

Keith and Kent are premium members of LoopNet giving their listings top exposure to investors worldwide. Their associations with the CCIM Institute, the CIPS Network and Leading Real Estate Companies of the World, provide unsurpassed access to global networks of the top commercial real estate professionals and the most complete global Buyer/Seller Referral Network available today. Keith and Kent will pair you with the best agent—wherever you are! Browse their referral website for more information.

February 12, 2019 | K.C. Conway, MAI, CRE--CIRE Magazine Jan/Feb 2019

Beware of potential speed bumps in 2019.

While the U.S. economy picked up steam in 2018 thanks to strong confidence from both consumers and businesses, commercial real estate professionals may need to brace for some speed bumps ahead in 2019.

Heading into the fourth quarter of 2018, consumer confidence remained elevated due to high levels of employment and business expansion. In fact, the U.S. posted a record high number of job openings in October, with more jobs available than unemployed people in the workforce, according to Job Openings and Labor Turnover Survey (JOLTS) employment data. Another key indicator, the National Federation of Independent Businesses Small Business Optimism Index, remains near record highs

February 11, 2019 | © 2019 Florida Realtors®

​TALLAHASSEE, Fla. – Feb. 11, 2019 – The Florida Public Service Commission (PSC) issued a declaratory statement that affirms Tesla, LLC (Tesla) can offer residential solar equipment leases in Florida with fears that it will be regulated as if it’s a utility.

The declaration removes a cloud hanging over Tesla’s solar-power expansion in Florida, and those homeowners considering the energy-efficient upgrade. As a result, more homes could be sporting solar panels as the company kicks expansion plans into high gear.

October 18, 2018

​Located in the heart of Old Town Key West, the gorgeous, art-filled Key West Bed & Breakfast at 415 William Street recently sold for $3,000,000. The beautiful, circa 1898 Victorian three-story home is listed on the National Historic Register. It consists of 10 uniquely decorated guest rooms and large common areas for the guests to relax. It was purchased by the partnership group that owns the iconic Island City House Hotel next door. Keith and Kent represented the group in this transaction. They own these and six other historic Old Town boutique hotels which are all managed by the Riley Hotel Group.

August 18, 2018 | Kent Ducote

The real estate market for lodging in Key West continues to be sizzling hot through 2018 as a large number of lodging facilities have changed hands at record prices per unit. Most recently sold was the Coco Plum Inn located at 611-615 Whitehead Street. It is a prime Old Town location, one block from Duval Street, equidistant from Mallory Square and the Southernmost Point, and 2 blocks from the lighthouse and Hemingway’s house. The Coco Plum Inn consists of two classic historic two-story Conch houses with a swimming pool in between amongst tropical gardens and a 12-seat restaurant serving hot breakfast ordered a la carte from the menu. Coco Plum Inn has 14 transient-licensed units and 1 non-transient unit where the manager/owner have traditionally lived.