For the first time in over two years, the commercial real estate market has seen a significant uptick in prices. In fact, the most recent results show a quarterly increase of almost 6 percent, which is better than any other quarter since June of 2011.
The results are compiled and reported by the Costar Group in the CoStar Commercial Repeat-Sale Indices (CCRSI). These metrics areB widely considered the most exhaustive and complete statistics on the commercial real estate market in the United States. This quarterb s results included numbers from almost 1200 commercial real estate transactions.
Of particular note are the results in the South Composite Index that includes the Tampa, Orlando and South Florida markets. Though lagging somewhat in investor interest, these markets still produced pricing gains of over 14 percent. It will be interesting to see the results when investors finally realize that the South Florida commercial real estate market is truly heating up.
For more on South Florida commercial real estate, or if you need some help finding the perfect office space,B please contact us at Morris Southeast. You can find us online at morrissoutheastgroup.dsherpa.com or reach us by phone at 866-930-1426.
Tags: miami commercial real estate, South Florida commercial real estate, South Florida commercial real estate services, South Florida office property
