real estate – Randy Benderson

Benderson Development Celebrates 75 Years

This year, Benderson Development is celebrating 75 years as a leading real estate developer. Founded in 1949 by Nathan Benderson, the company’s journey began with the purchase and redevelopment of a brewery in Buffalo, New York. That early venture was the start of things to come.

In honor of this milestone, Randy Benderson, the company’s managing director, shared, “I’m incredibly proud of the legacy my father, Nathan Benderson, built. He had a rare talent for seeing potential where others saw challenges, transforming overlooked opportunities into remarkable successes. His passion for excellence, integrity and long-term planning has laid the foundation for everything we’ve accomplished over the last 75 years.”

Now in its third generation of family leadership, with Randy at the helm alongside his sons Shaun and Evan, Benderson Development has grown into a national powerhouse, with over 1,065 properties spanning 55 million square feet in 40 states. The company’s diverse portfolio includes market-leading retail centers, grocery-anchored spaces, warehouse properties, office buildings, and award-winning hotels.

Randy emphasizes that the company’s strength lies in its ability to revitalize underperforming commercial spaces and vacant land, turning them into highly successful assets. “We specialize in transforming ordinary spaces into extraordinary destinations.”

In 2004, the company relocated its headquarters from Buffalo to Sarasota, FL, though it maintains an office in Buffalo and additional regional offices in Rochester, NY, and Raleigh, NC. Benderson is now the largest commercial real estate developer in the Tampa Bay area, with more than 200 properties in Florida, including nearly 1 million square feet of development in 2023, according to the 2024 Tampa Bay Business Journal.

With the company based in Sarasota, Benderson has since become a major advocate and key partner for local economic and community development. One standout project is Nathan Benderson Park, a public-private collaboration that transformed a former shell excavation site into the region’s premier multi-sports venue and a world-renowned rowing venue.

“The most rewarding part of these 75 years has been witnessing the positive impact we’ve had on the communities we serve,” said Randy Benderson. “Whether it’s creating jobs, supporting local businesses, or contributing to projects like the rowing park, it’s the communities we help build that matter most.”

Looking to the future, Randy sees continued opportunity for Benderson Development’s growth. With recent ventures in mixed-use developments across Florida and as far as Anchorage, Alaska, the company is poised to thrive for another 75 years. “What we do is about more than just real estate. It’s about bringing people together and supporting our neighbors. We remain committed to the values my father instilled in us—focused investments, strategic growth, and a deep dedication to our people.”

Property Management And The Rise Of The Millennials

A business hoping to stay relevant in its industry should learn how to adapt to shifting consumer demographics and market trends. And at present, millennials already constitute a significant part of the market; recent statistics have shown that the said generation make up around 25 to 30 percent of the total U.S. population.

millennial-real-estate-millionaire — Image source: auction.com

And as millennials are on the onset of their prime spending years, property managers should find ways to capitalize on this.

Firstly, property management professionals and companies should understand that millennials are more inclined to rent a residential property initially, instead of buying one, for various economic, career, societal, and government factors. They should also take note of two of the dominating characteristics that millennials generally have: highly social and highly visual.

Gone are the days when rental real estate is defined by square footage and room size – millennials would rather look for properties that offer amenities that facilitate socialization and foster their digital entertainment needs. For example, properties that include recreation facilities, coffee shops, speedy Wi-Fi connection, and efficient cellular service are more likely to pique the interest of these renters. Property managers then have to find ways how to install or upgrade these features.

And the aforementioned characteristics are also evident in how millennials can spend almost the entire day on the mobile devices or computers. They have the need to share their opinions or experiences with not just their friends, but even with strangers on social media. Thus, now more than ever, ratings and reviews matter. Property managers should then put a premium in not just improving their properties, but also in bettering their customer service and relationship with consumers or tenants.

Randy Benderson is the president of Benderson Development, helping build the company into becoming one of the largest and most diverse real estate developers and property managers in the U.S. For more articles on the industry, click here.

Why Florida’s real estate industry will continue to boom after Hurricane Irma

While it’s still too soon to say that the real estate industry will recover quickly in the aftermath of Hurricane Irma, there are indications that just a few weeks after the category 4 storm hit the state, things are looking up.

AR-160909736 — Image source:heraldtribune.com

Images of the havoc wreaked by Irma flooded the media just hours after the Hurricane slammed Florida’s coasts. It initially worried the local real estate market, which relies heavily on out-of-town and foreign investors. It’s a big thing, especially for the state’s home and condo cash purchases which—at 20 percent of all Miami-Dade real estate transactions—is double the national average.

The deciding factor here is the speed by which infrastructure are repaired and the availability of amenities returning to normal, analysts say. Florida’s housing statistics will be affected since minor damages and power outages have delayed a few area closings. But if August data will be the basis, there should be a continued rise in mid-market home sales.

Other analysts even believe that the hurricane could prove a boon to the state’s luxury housing market, which could coax sellers into lowering asking prices. More importantly, structures did hold up well in the aftermath; the damage has mostly been downed power lines and landscape debris. Recovery should be fast, as people ultimately want to be in Florida.

Randy Benderson is the President of Benderson Development, a venture his father, Nathan Benderson, established in New York over 60 years ago. Today, Nathan’s legacy stands with the company, hailed as one of the largest and most diverse real estate developers in the U.S. For similar reads, drop by this blog.