South Florida Commercial Real Estate Market

7/15/2019 (Permalink)

These major sales underscore the fact that the commercial real estate market is alive and well in South Florida.

Business has been booming for the South Florida commercial real estate market over the last year or so. During the 2018 year, there were a number of notable “mega deals” worthy of discussion. These large transactions unearthed a number of trends that set the tone for the 2019 year in commercial real estate. Like in 2017, there were a total of 15 commercial real estate sales that hit the $100 million mark or more in 2018. The consistency in impressive sales highlights the fact that the market is thriving.

Florida has always maintained a strong commercial real estate presence, both globally and nationally throughout history. Things like tax-friendly laws, a thriving tourist destination, a growing population, and pioneering development projects have made the Sunshine State an attractive place for investors around the world. In addition, Florida’s location on the map makes it a hot market. With access for transportation by both air, sea, and land, South Florida receives significant investment from major global players in the real estate game.

Some of the largest South Florida commercial real estate deals from last year include:

• 111 Brickell, sold for $248.5 million
• Telemundo Headquarter in Miami-Dade, sold for $239.1 million
• PGA National Resort & Spa in Palm Beach Gardens, sold for $217.96 million
• Hilton Fort Lauderdale Marina, sold for $170.7 million
• Margaritaville Hollywood Beach Resort, sold for $126.52 million
• Alexander Living in West Palm Beach, sold for $102.99 million

These major sales underscore the fact that the commercial real estate market is alive and well in South Florida. At SERVPRO of North Palm Beach County, we handle restoration projects for commercial properties of all sizes. For more information, contact our offices today!