It was recently announced that the Fort Lauderdale-Hollywood Airport will be expanding its international terminal starting in October 2012. B This $450 million project will add 4 new gates, restaurants, shops, and restrooms to the airport and is expected to be completed by 2018.
What does this mean for the South Florida commercial real estate market? B Well, for one, the goal of the expansion is to drive more international traffic and business to South Florida, therefore helping to increase occupancy and demand for our commercial real estate. B A major goal of this project is to increase the number of international airlines that fly in and out of Fort Lauderdale, which will positively impact the commercial real estate within close proximity to the airport as businesses will need to service these additional carriers.
For more information about the current South Florida commercial real estate trends and how the expansion of the Fort Lauderdale-Hollywood airport will make an impact, contact the experts at Morris Southeast Group.
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