CRE Investment Money Is On The Move Among States
Investors are spreading their money out geographically for a number of reasons, including diversification, the search for higher yields, state tax policies, and retirement strategies, “to capitalize on unique market dynamics like migration and demographic trends.”
How CRE Investors Can Still Create Value In A Rising Rate Environment
“Other than owning a company or a franchise, only real estate allows investors to roll up their sleeves, either physically or metaphorically, and create value in an investment.”
More High-Earning Households Are Moving To Florida Than Any Other State
Texas ranked second, followed by Arizona, North Carolina and South Carolina.
While Markets Correct, Are Florida’s CRE Owners Prepared For Higher Property Tax Bills?
Despite the changing economic pressures, 2022 CRE assessments in Florida will receive a significant increase on this year’s TRIM notices in response to 2021’s sales. County appraisers value property based on the economics leading up to Jan. 1, not after.
Florida’s Rent Control Initiative Is Being Resisted By Landlords
The Florida Association of Realtors and the Florida Apartment Association sued Orange County, Florida, last week in an attempt to undermine a ballot initiative aimed at limiting how much landlords can increase their rent prices. If passed in the fall by voters, it would be the first time such a measure is approved in Florida in decades.
CRE Investment Volume Climbs 10% In Q2
Both gateway and Sun Belt markets recorded strong growth.
Apartment REITs Underperformed In Q2, But Remain Attractive For Investors
March may have been the peak of annual rent growth (15.26%)—the metric hit 13.35% in June—but say that “doesn’t tell the full story.”
Partnership to Develop $120M Apartment Community in Cape Coral
The 412-unit property will include one-, two- and three-bedroom floor plans with private balconies, open living areas and high-end finishes. Community amenities will include a gym, pool, dog park, pickleball courts and a business center.
💡 New Economic Update from SVN Research
Featured topics: Inflation Inflation Reduction Act Impact...
Industrial Developers Tackle Construction Challenges
As sites become scarcer, project sponsors are turning to alternative strategies.
378,000 SF Industrial Facility In Punta Gorda Breaks Ground
The property will feature 32-foot clear heights, a single-side loading configuration, 54 loading docks and 73 trailer storage spaces opposite the loading docks.
SWFL Counties Among ‘Places Where Social Security Goes the Furthest’
Charlotte County came in at No. 6 in the financial technology company’s study, followed by Lee County at No. 8 and Collier County at No. 9.
A Strong U.S. Dollar Could Mean A Lot — And Not So Much — For Commercial Property Investment
As of July 29, the value of the dollar was outpacing the euro and the pound by 2 cents and 18 cents, respectively. That could signal an even greater investment opportunity in the U.S. among foreign buyers, though it is far from the only factor at play.
Commercial Contracting Challenges Expected to Continue
A whopping 98% of general contractors surveyed by the firm indicated an increase in supplier costs and material lead times, while 75% reported increased project execution timelines.
Fort Myers Land Sells For $30.8 Million
Certain pockets of Southwest Florida seem to be immune from any national economic downturn trends, including the Interstate 75 and State Road 82 corridor in Fort Myers.
Multifamily Lending To Slow Down For The Rest Of This Year
The organization released a new baseline forecast that projected a much slower second half of the year, with total commercial and multifamily financing to fall by 18% from $891 billion in 2021 to $733 billion in 2022.
Five Challenges And Solutions To Market Pressures On Industrial Real Estate
Here are five key issues to consider when evaluating an SBA 504 refinance for the industrial sector.
Commercial Real Estate Investor Sentiment Signals A Changing Outlook
Preliminary data from SitusAMC Insight’s second quarter 2022 institutional investor survey shows changing preferences among property segments. After so many quarters of seemingly unstoppable growth, the industrial sector is starting to show initial signs of a slowdown, even though fundamentals are still strong.
Office Asking Rents in Miami Break $50 Per Square Foot
Driving the increase in rents was Miami’s Central Business District—which includes Downtown Miami, Wynwood and Brickell.
Building Burden: Rising Construction Costs Weigh Down Profits
Builders have to weigh whether to accept smaller profit margins, eschew some projects altogether or, in the case of affordable housing, seek more money from public funding sources to complete those jobs.
What CRE Investors Should Consider When Contemplating A Recession
So does it really matter if the US undergoes a recession? That depends.
SVN Commercial Partners’ Adam H. Klein, Elon Gerberg Negotiate Sale Of Fort Lauderdale Retail Plaza
Klein and Gerberg represented the buyer, Brickbox Management LLC, in the transaction.
Former Buc-ee’s Site Cleared For Industrial Job Center, Apartments
Alessio Holdings Inc., an Illinois-based real estate investment company, bought the 159 acres from Buc-ee’s for $10 million.
STUDY: Southwest Florida’s Rental Market Is One Of The Nation’s Most Competitive
Southwest Florida is the fourth most competitive rental market in the U.S. due to high occupancy rates, low apartment availability and record-high lease renewal rates, according to a RentCafe study.
Construction Starts Continued To Climb, But Slowdown May Be Looming For Specific Sectors
While the overall trend in construction starts is positive, the very aggressive stance taken by the Federal Reserve to combat inflation risks slowing momentum in construction.
Naples, Fort Myers Among Top 3 Safest Places To Live In U.S.
According to data from Coldwell Banker, Florida was the top-searched state by those looking to relocate and Naples joined Sarasota, Miami and Tampa as top-searched destinations.
Investors Eye Industrial Assets In Port Cities As Market Fluctuates
Industrial assets in port markets are trading for a premium. Despite the fact that port markets are more expensive, they still present themselves as a better long-term play for investors.
Mid-Year Gut Check On Top 10 CRE Investment Categories
At the start of 2022, the investment profile for commercial real estate was generally bright, albeit tempered with concerns about rising inflation and interest rates on the horizon. Now in the thick of these events, one silver lining is that it is easier to see the strengths and weaknesses of the various asset classes.
CRE Price Growth Still High… For Now
CRE prices are still rising, but the rate of growth for most types seems to have hit the top and has tipped over on the downward slope.
City Of Naples Community Redevelopment Agency (CRA) Announces Approval Of DPZ Codesign Master Plan for the Newly Designated Naples Design District
The Master Plan seeks to leverage existing assets by amplifying infrastructure that currently defines the Naples Design District’s success, such as enhancing the unique alleyway system with the Design Walk, a picturesque and active promenade to complement the art, design, and dining scene already in progress. Also underway are plans to refine the District’s infrastructure and to improve connectivity to destinations beyond the Naples Design District.
CRE Investment Performance Has Been Sizzling
If you’ve been invested in commercial real estate, you’ve had a superb trailing four quarters—on average. But that depends on what properties your money sat. As for the future, that’s looking uncertain.
The Impact Of Interest And Inflation On Industrial Real Estate
The entire real estate class could benefit from this period of economic volatility and continue to outperform the broader equity markets.
Buyer Demand Remains High for Corporate Sale-Leaseback Deals
The corporate sale-leaseback market is coming off a record-high first quarter for deal-making. Despite repricing occurring in the wake of rising debt costs, industry insiders remain optimistic of continued strong momentum ahead in the remainder of the year.
Commercial Real Estate Insulated From Inflation Impact: Report
Long-term deals and fixed-cost increases temper impact on occupiers.
SVN Commercial Partners Closes Sale of Apartment Complex In Historic Neighborhood Of West Palm Beach
The SVN Commercial Partners (SVNCP) Multifamily Team, comprised of Team Leaders Steven Paulsen, John Andrews and Junior Advisor Mason Highman, represented the seller in the sale.
SVN Commercial Partners’ Adam H. Klein Facilitates Contract to Close in 40 Days Of Industrial Warehouse in Greater Fort Lauderdale MSA
“In an increasingly difficult market to source well-located investment properties, we’re pleased to be able close on this opportunity” Klein said, “This sale went from contract to close in 40 days which is a testament to the competition of this market.”
Construction Costs For Multifamily Housing Rise By Half
Multifamily developers are still facing delayed shipments of construction material and rising project costs due to inflation and interest rates.
Fort Myers Leads Year-Over-Year Apartment Rent Increases
The average rent in Fort Myers was $2,073 in April, up a whopping 32% year over year.
Multifamily Land Grab Expected To Slow As Interest Rates Rise
Rising interest and insurance rates are projected to slow down South Florida multifamily investments following a year of frenzied buying, according to a recent report from Franklin Street.
Tenant, Investor Demand Propels South Florida’s Multifamily Market To New Peak
Collections and occupancies are excellent, new supply is quickly absorbed, population/household growth is on fire, the job market has largely rebounded, wages are up, home prices are at record levels — meaning more people are renting — and limited land is keeping construction in balance.
Commercial Real Estate Investment Up 45% Year-Over-Year
2022 is off to a solid start for CRE investment. Reports from both Colliers and CBRE for the first three months of this year found that investment in commercial real estate is up, and by some accounts, setting records.
Florida Tourism Grew In First Quarter Of 2022
Florida welcomed 36 million total visitors between January and March 2022, according to VISIT FLORIDA estimates.
Florida Has The Top 5 Hottest Metro Commercial Real Estate Markets
According to the National Association of Realtors’ Commercial Real Estate Metro Market Conditions Index, CRE metro markets were particularly hot in the Sun Belt and West, with Florida walking away with the top five out of 16 markets.
Self Storage Still Rising After Pandemic
While the sector formerly relied on business from major life events such as death and divorce, the uptick in interest in the wake of the pandemic has continued, two years on.
More Renters Renewing Leases As US Apartment Market Continues To Tighten
RealPage found, among metro areas it tracks, apartment-renewal increases have surged the most in places seeing the biggest spikes in new lease rents.
Blackstone’s Results Show Real Estate Remains Key Defense Against Inflation, Market Uncertainty
Value of private equity giant’s opportunistic investment portfolio appreciates 10.3%, outpacing other segments.
Southwest Florida’s Labor Force Keeps Growing — But Not Enough To Meet Demand
“I think the main hurdle we have in SW Florida from a jobs perspective is that we don’t seem to have enough skilled labor for the jobs we want,” said Tiffany Luongo, Senior Advisor with SVN | Commercial Partners. “Our area has historically been saturated with hospitality and tourism industry jobs – moving away from that, into a more educated and skilled-labor workforce takes time.”
Office Space Up For Sublease Back On The Rise
The office sublease surge showed signs of abating late last year as companies juggled hybrid work plans and signed for space, but the rise in nationwide availability was back on in the first quarter of 2021.
National Moving Company PODS Names Sarasota Top Location For Moves In United States
Sarasota had the highest ratio of move-ins verses move-outs of PODS customers from January 2021 to March 2022, beating out Dallas-Fort Worth, Nashville and Tampa, according to a news release on the PODS data.
Tesla St. Petersburg Location Moves Forward with $13 Million Land Sale
The location is situated in the Lealman Community Redevelopment Area, which was established in 2015 to revitalize Lealman and is also home to an under-construction Amazon last-mile delivery center.
10 CRE Assets Ranked By Their Ability To Withstand Inflation
Some commercial real estate assets classes are more affected by inflation than others. CrowdStreet ranked 10 asset classes from strongest to weakest according to their ability to serve as inflation hedges.
Commercial Property Sales Up 183% Across South Florida
South Florida commercial real estate transactions rose to $25 billion in 2021. That’s a 183% increase from the $8.8 billion in transactions across Miami-Dade, Broward, and Palm Beach counties recorded the year before.
Commercial Real Estate Predictions For 2022
While not every area of commercial real estate is set to see an upswing, there are a few predictions that are safe to make based on trends in the market.
Small Industrial Tenants Feel Squeezed Out Of Booming Warehouse Market
In a warehouse market with constrained inventory, rapid rent escalation and fierce competition, it’s getting tough for small warehouse users to find, and afford, space.
Despite Inflation Woes, Long-Term Outlook For CRE Remains Strong
Investors can also look toward migration patterns: the top three population growth markets over the next two decades will be in Austin, Orlando, and Phoenix, according to Moody’s Analytics.
When Will Investors Finally Balk At High Prices, Low Cap Rates?
A key CRE question is when will the market begin to balk at high selling prices and low cap rates? Is this beginning to happen now? The first signs of this value adjustment will be deals falling through.
Previously Planned Super Travel Center Location Trades For $10,000,000, Now Slated For Multifamily & Industrial Use; One Newly-Acquired Parcel Simultaneously Sells
SVN Commercial Partners (SVNCP) Senior Advisors Bryan J. Myers and Tiffany Luongo collaborated to close the acquisition of the 159 acres located at Interstate 75 and Ortiz in Fort Myers.
Real Estate Investors Eye Student Housing As College Dorms Come Up Short
University and college enrollments keep rising, making off-campus housing an attractive target.
Here Come The Multifamily Headwinds
The question investors and operators must ask is what might be coming.
South Florida Reaches ‘Peak Demand’ For Coworking Spaces
The reason? The “world has changed” since the pandemic, and many businesses want the freedom to react to uncertain events. In exchange, some are giving up long-term leases.”
No Lots? No Problem: Developers Turn Retail Into Rentals
With open land scarce, multifamily builders are pursuing adaptive reuse.
Industrial Property Lease Terms Get Shorter And Shorter
An analysis of 101 metros by Moody’s Analytics shows that from 2017 to 2019, the average lease term for warehouse and distribution space changed around the 36 month mark.
5 Simple Questions To Think About In A Stong Market
The topic, which was presented in the Land & Development Product Council, focused on not only how to deal with buyers and sellers in this strong market, but also what should an advisor be doing to prepare for the next cycle. The basis of being an advisor who focuses on the Relationship not the Transaction is the basis for this set of questions.
SVN | Commercial Partners Multifamily Team Closes Sale Of Lake Worth Beach Apartments With Additional Land To Develop
The SVN | Commercial Partners (SVNCP) Multifamily Team, comprised of Team Leader Steven Paulsen, Senior Advisor John Andrews and Junior Advisor Mason Highman, represented both the buyer and seller in the sale and purchase.
Yes, CRE Can Be An Inflation Hedge, With This Caveat
Commercial real estate has long been regarded as an inflation hedge, but economists from Moody’s Analytics say that adage will be tested this month as the Fed begins the first in a series of expected rate hikes.
Flexible Co-Warehousing Pioneer Expanding Nationwide
The expansion will involve building new warehouses, as well as acquiring properties for conversions.
Freddie Mac Index Suggest It’s Getting Harder To Find Apartment Investments
The fall in the apartment index shows that it may be harder to find multifamily investment opportunities in the current market.
Spec Industrial Project Planned For Palm Beach County
The property is located just west of Interstate 95, not far from the Tenth Avenue exit.
How Retail And Industrial May Adapt In The Coming Years
Partner Insights spoke to Judy Guarino, managing director for commercial mortgage lending at JPMorgan Chase, to learn more about where both sectors stand today.
West Palm Beach To Reshape Industrial Neighborhood Into Nora District
While the Nora district spans 40 acres, NDT Development and Place Projects have rights to 15 acres across 72 individual properties within the neighborhood.
What’s The Opportunity For Office To Industrial Conversions?
Prologis estimates that between 40 and 80 million square feet of office will undergo conversion.
Grover Corlew Acquires Downtown Boca Office Building
Having earned the reputation in Florida and the southeastern U.S. for reimagining infill office properties in prime locations, Grover Corlew plans to invest in the building with upgrades to tenant space, common areas, landscaping and the façade.
SVN Commercial Partners’ Elon Gerberg Negotiates Sale Of Margate Retail Plaza For More Than Twice The Previous Sale Price
The fully-occupied retail plaza features 138 feet of frontage along North State Rd 7 (US Highway 441), benefiting from a daily traffic count of over 52,000 vehicles.
Labor Shortages, Land Availability Will Pressure Industrial In 2022
The continued need for labor to service growing e-commerce demands, combined with an economy at nearly full employment, is exacerbating the labor shortage for distribution workers in many markets. In addition, scarce land availability will also continue to impact the industrial sector.
Why One Expert Believes The Future Of The Office Is All About Connection
Data from property technology company Kastle Systems shows that the average occupancy rate for offices in 10 major U.S. cities still sits at 36.8% of 2019 totals.
Developers Race To Build More Class A Offices On ‘Wall Street Of The South’
In the past five years, 96 financial firms have established offices in Palm Beach County.
Self-Driving Trucking, E-Commerce Industries Compete For Industrial Space
The advent of self-driving trucks is motivating a land grab for transportation hubs near major cities, particularly across the Sunbelt states.
Seven Trends Driving Commercial Real Estate In 2022
For investors getting ready for the months ahead, here are some significant trends I expect to play out.
SVN Commercial Partners Again Sells 560-Acre Tuckers Grade Tract
The deal marks the second major transaction between buyer and seller principals since 2020.
Foreign Investors Rush Back to US Markets
Acquisitions increased 49% last year with Canada leading the way.
Commercial Real Estate Lending Continues To Expand
The largest share of non-agency loan closings in the period was among alternative lenders—debt funds, pension funds, and credit companies. They composed 37.7% of the activity.
Florida’s West Coast Cities Rank Among Top Emerging Real Estate Markets
Economists expect demand to remain strong.
What Investors And Occupiers Are Watching In 2022
The disruption wrought by COVID-19 to global markets will continue to abate this year, according to Cushman & Wakefield economist Kevin Thorpe – and several indicators will be top of mind for occupiers and investors alike as the economy recovers.
The Office Market May Be Turning a Corner
” …33 out of 51 tracked markets registered positive net absorption as market correction is underway.”
In Record South Florida Deal, Equus Pays $240M For Industrial Complexes
The properties include 16 warehouses, spanning 23 acres in total.
Physician-Owned Florida Real Estate Poised To Prosper In 2022
Demand for healthcare real estate is expected to reach new highs in 2022. This trend uniquely positions physicians who own their real estate to capitalize on unprecedented values.
Real Estate, Infrastructure Cross-Investment Could Pick Up Steam In 2022
Last year’s passage of the $1.2 trillion infrastructure bill may also compel more real estate-oriented groups to invest in infrastructure this year, especially as investors continue to look for places to place capital through the turbulence of the Covid-19 pandemic.
Sarasota Housing Market Ranked No. 2 In New Wall Street Journal Report
The local real estate market saw unprecedented growth in 2021, with record home sales and prices.
Are Data Centers The Next Big Move For Office Investors?
Hedging office investments is a necessary move. But are data centers a good approach?
Higher Inflation Means More Competition For CRE Assets
There are three factors driving inflation right now, including a housing shortage.
Supply-Chain Crisis Likely To Persist Well Beyond 2022
It will probably be years before the supply chain crisis ends and industrial real estate supply and demand finds equilibrium.
Mergers, Acquisitions Activity Picks Up In Commercial Real Estate As Firms Look To Diversify Offerings
The flurry of deals announced or closed in 2021 was a contrast to the real estate M&A lull in 2020, the early days of the Covid-19 pandemic.
Multifamily Will Continue to Soar Amid Interest Rate Hikes
Lenders who spoke at CRE Finance Council’s annual Miami conference Tuesday noted that the Federal Reserve’s planned interest-rate hikes this year would only increase the need for rental apartments since it will drive up costs for homeownership.
Two Franchises Of The Highly Recognized National SVN Brand Form Alliance To Provide Collaborative Regional and Local Brokerage, Eyes Expansion In 2022
The alliance allows each office to better leverage their operational synergies and expansive scale. Combined the entities have a primary market area that covers all of south and southwest Florida with a combined 4 offices
Commercial, Industrial Building Planning Highest In Over A Decade
“The signals provided by the Dodge Momentum Index continue to suggest that construction activity will improve in 2022—and, more importantly, that this growth will be more balanced than what was seen in 2021.”
Six Factors Helping To Power Interest In Multifamily Markets
Multifamily-property values have increased 13 percent since before the pandemic and more money is being invested now in apartment buildings than in any other type of commercial real estate.
Commercial Real Estate Could Be Poised For Continued Lending Growth In 2022
After commercial real estate lending volume rebounded from a challenging 2020, the number of deals is poised to soar further this year in a higher interest-rate climate, according to industry experts.
Office-To-Industrial Conversions Expected To Tick Up In 2022
The industrial market grappled with historic vacancies in the third quarter, with the metric hitting 4.6%. Meanwhile, the office market continued to slump, and older, less amenity-rich product suffered most. That divergence is increasingly driving investors and developers to consider industrial redevelopment opportunities for some unproductive office properties.
South Florida Retailers Face New Realities In The Post-COVID-19 World
The National Association of Realtors Commercial Market Conditions Index rankings show that five out of 10 of the hottest commercial markets in the country are in Florida: Fort Myers, Port St. Lucie, Sarasota-Bradenton, West Palm Beach-Boca Raton and Punta Gorda.