If you stay up-to-date with real estate news in Florida, you know that the single family and multi-family housing market is coming back strong, but what about commercial real estate? Recent trends indicate a good outlook for commercial real estate throughout the U.S., and in Florida, in particular.
Before the market crash in 2008, commercial building construction generated about $81.4 billion dollars in revenue each year. This number dipped down to $41.8 billion in 2011, but is projected to increase to $55.9 billion dollars in 2013, an increase of 12 percent.
Examining the number of construction workers hired annually is an additional measure of market success. Currently, Florida ranks in the top five states for construction employment with just over 41,000 individuals working in construction. Other top states on this list include California, New York, Texas, and Illinois.
If you have considered purchasing South Florida commercial real estate, now is a great time to invest in property, since the market is on the rise. You can view our group property search on the website to find a building that meets your needs and contact us at Morris Trends when you are ready to secure the perfect commercial office for your business.
Tags: commercial real estate, Commercial Real Estate Trends, South Florida commercial real estate, South Florida commercial real estate services
