Commercial foreclosures are up more than 350% nationally; What about in Southwest Florida?

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Photo by Competitive Insight

Does it feel like you’ve seen more businesses move out and ‘for rent’ signs move in? Or, perhaps buildings just sitting empty? Depending on where you are looking, that could be exactly the case.

ATTOM, a data company focused on real estate, dug into the number of commercial foreclosures.

In Florida, from November of 2023 to January of 2024, there were 126 commercial foreclosures, according to ATTOM’s data.

  • November 2023 – 39
  • December 2023 – 40
  • January 2024 – 47

The numbers have also climbed year over year. In January 2023, there were 33 commercial foreclosures compared to January 2024, which had 47.


Nationwide, the numbers are concerning as well. According to ATTOM, in May 2020, there were 141 commercial foreclosures. At that point, the U.S. was a couple of months into the pandemic. By January 2024, commercial foreclosures surged to 635 – a 350% increase.

“This uptick signifies not just a return to pre-pandemic activity levels but also underscores the ongoing adjustments within the commercial real estate sector as it navigates through a landscape transformed by evolving business practices and consumer behaviors,” said Rob Barber, CEO at ATTOM.

WINK News also contacted Charlotte, Collier, and Lee Counties about commercial foreclosures to analyze whether our numbers echo the national and statewide trend.

Charlotte County

  • January 2023 – 1
  • November 2023 – 1
  • December 2023 – 0
  • January 2024 – 2

It is worth noting, however, that in September 2023, there were 9 commercial foreclosures in Charlotte County.

Collier County

  • January 2023 – 1
  • November 2023 – 0
  • December 2023 – 2
  • January 2024 – 0

Lee County

  • January 2023 – 0
  • November 2023 – 1
  • December 2023 – 1
  • January 2024 – 2

The 2023 4th Quarter Commercial Real Estate Report for the Cape Coral/Fort Myers area from the National Association of Realtors doesn’t delve into foreclosures. It does, however, analyze retail and office space. 

The report stated, “Demand for retail space is weaker than nationwide as this area has a slower absorption of retail space. Despite weaker conditions, rent prices rose faster than nationwide, and the vacancy rate is lower in this area.”

“Demand for office space is stronger than nationwide as this area has a faster absorption of office space. As a result, rent prices rose faster than nationwide, and the vacancy rate is lower in this area,” according to NAR.

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