Over the next five years the Florida commercial real estate market will continue with its slow recovery which was first marked in the latter part of 2010 according to a comprehensive assessment and outlook on CRE throughout Florida, theB CB Richard Ellisb s Florida Market Perspective Mid-Year 2011. And as the market is currently recovering Miami-Dade is in the lead when it comes to new activity.
Throughout the rest of the year more leasing and sales in the prime submarkets is expected, as lease renewals take the forefront in surrounding areas. Yet although there hasn’t been a B strong spike in activity in North or Central Florida there have been indications of a stabilized market and stronger fundamentals which will help fuel the recovery.The CBRE report also noted:
- Select industries are beginning to re-establish their confidence in the market through expansions and long-term lease commitments
- Multi-housing properties are highly targeted by investors in Florida. In core markets, international investors continue to show strong interest in commercial real estate assets
- Distressed assets continue to be a concern, but Floridab s lengthy foreclosure process slows the delivery of distressed assets available for acquisition.
To learn more about the commercial real estate trends in South Florida continue to visit our blog and visit our websiteMorris Southeast Group.
Source: South Florida Business Journal
Tags: commercial real estate, Commercial Real Estate Trends, Miami, Miami-Dade, South Florida commercial real estate, South Florida commercial real estate services
