The South Florida commercial real estate landscape is looking sunny once again, as it is throughout the United States, as well.
Forbes recently published an article outlining a Jones Lang Lasalle report that had a positive outlook for commercial real estate in general, including office, retail and industrial properties. Construction has continued to have a fairly slow recovery but is expected to improve as the rest of the commercial real estate market continues to improve and vacancies decrease.
Prospective tenants during the economic recession had substantial power in lease negotiations with landlords because of the high amount of spaces available, but that power is beginning to fade as tenants are finding less options when searching for properties to lease (before this happens, tenants should take advantage of the market now). This shift will continue as the market continues its improvement in 2013 and beyond.
With Libor and cost-of-funds interest rates at all-time lows, it may be time to test the waters in the South Florida commercial real estate market. Morris Southeast Group is a leading provider for all of your commercial real estate needs in the Southeast Florida market and has been providing services including owner representation, tenant representation, corporate services, and investment sales.
Tags: commercial real estate, Commercial Real Estate Trends, CRE, Morris Southeast Group, South Florida commercial real estate, South Florida commercial real estate services
