Posted on: March 30, 2017
It’s no surprise that Orlando, Florida was just named the #1 Best City in the US to Own Investment Property! Commercial real estate in the area ended on a strong note in 2016, with even more developments planned for 2017. Demand continues to grow, with vacancy rates declining, rents increasing, and new builds on the way.
We’d like to share a few recent articles with you that outline some recent and upcoming commercial developments in Florida:
“Strong.” “Robust.” “Hot, hot, hot.”
Local key players in the commercial real estate market described 2016 as overwhelmingly positive at NAIOP’s annual CRE Business Report Card event. As Panelist Larry Richey, Florida managing principal of Cushman & Wakefield, said, “Across the board in Florida — and Central Florida — it’s been an exceptional year.”
According to the Orlando Economic Development Commission (EDC), there is currently an unprecedented level of office, multifamily, and mixed-use development planned for downtown Orlando. This is largely thanks to Tremont Plaza, a 28-story mixed-use development being built by Lincoln Property Co. and Tremont Realty Capital.
There’s a lot to look to in 2017 for commercial real estate in Central Florida, including rent growth in all sectors (which is expected to continue), spec office development, and growth in the technology and healthcare sectors.
Office rents in the Tampa Bay area are rising to the point they could justify new office construction, which all but stopped after the Great Recession.
“I think you’re going to see new construction in Tampa. Channelside is rocking,” said Gary M. Ralston, a commercial real estate broker and certified building contractor.
The Florida market is going strong and showing great potential for further improvement throughout 2017. It’s a great time to invest in commercial real estate opportunities while the market is hot and the potential for significant ROI is high!
MSR Holdings Inc. acquires exclusive commercial real estate investment opportunities in the US and Canada, currently focusing on Orlando, Florida. Contact us today to discuss becoming one of our select investors.
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