REBusinessOnline

Demand for Higher-End Markets in Southwest Florida Helps Class B Market

As job growth supports a healthy economy in Southwest Florida, the region is experiencing major population growth, causing a surge in new Class A multifamily construction. The number of new construction Class A units in Southwest Florida has increased by nearly 150 percent year-over-year. In first-quarter 2018, there were 257 Class A units completed, and in first-quarter 2019, that number rose to 622. With this increased supply of Class A properties, there is now more demand in Class B …

Impressive Retail Growth Makes Chattanooga More Than Just a Place to Visit

If you have visited Chattanooga in the past year, it should come as no surprise that you are in fine company. Mayors and Economic Development executives from across the nation have been flocking to the Scenic City. Envious of the Chattanooga success story, they have come to witness firsthand the ongoing transformation that has made Chattanooga one of the most livable, sensational and progressive mid-sized cities in America. The Chattanooga retail market is strong, chiefly due to the overall …

Columbia’s Turbocharged Manufacturing Renaissance is Alive and Well in 2019

There is a lot of buzz about the dominance of e-commerce and its effects on the industrial market. Columbia has its fair share of retailers with e-commerce distribution facilities as Amazon, The Home Depot and Target all have major distribution centers in the Midlands region of South Carolina. However, retail distribution is not the main driver of this industrial market. The heart and soul of the central South Carolina industrial market is manufacturing. Manufacturing properties make up …

Miami is Defying Nation’s Retail Woes With Thriving Malls, Shopping Centers

While there are mass retail closings around the country, in Miami, there is typically someone waiting on space to become available. Think about it: In Miami, there is actually a shortage of retail space. Uber luxury markets in Miami are performing extremely well with Bal Harbour Shops (owned by Whitman Family Development) being one of the top retail complexes in the country, followed closely by Dadeland Mall and Aventura Mall. These malls are continuously reinvented and expanded, adding …

Farewell Boom-Bust Cycle: Miami Office Market Ascends as the City Matures

For decades, the real estate market in Miami has been either boom or bust. Lately, the market has been on an impressive expansion cycle, with new office development following aggressive lease rate increases that in some areas have risen as much as 20 percent in total the past few years. As investors and users witness the growth in South Florida, the market has seen a significant amount of new development as rental rates continued to climb. The quick expansion, and arguably over-development, …

Distribution, Warehouse Demand Continues to Outpace Supply in South Florida

Miami-Dade continues to be propelled by persistent economic growth, bustling port activity, positive investor sentiment and strong leasing, creating a perfect recipe for industrial demand. Following its most successful year ever in 2018, PortMiami broke records yet again in first-quarter 2019, recording its highest ever monthly cargo activity amount in January with a total of 104,183 twenty-foot equivalents (TEUs) of containerized cargo, a 17 percent increase over January 2018. Meanwhile, a …

Robust Population Growth Drives Apartment Construction in Downtown Miami

The apartment construction boom continues in Miami as rapid demographic and employment growth foster rental demand. Employers expanded staffs by 25,900 personnel year over year in February, roughly 6,900 more than in the preceding annual period, which has kept the unemployment rate below 4 percent for 12 consecutive months. Hiring during this period was led by the professional and business services sector, due in part to a growing tech sector. The relatively higher salaries in this segment …

Main Street’s Retail Resurgence is Well Underway Across Metro Atlanta

Main Street is making a comeback, and this is not news by any means. This growing trend is not only affecting real estate in the greater Atlanta area, but also throughout the United States. Main Street’s demise began with the design of President Eisenhower’s interstate highway system. It allowed travelers to bypass once sustaining rural towns and divided urban cities in their hearts. In Atlanta, it’s easy to notice with the unconscionable prejudice that comes with the interstates that …

From Perimeter to Peachtree, Atlanta’s Office Market is Gaining Momentum

8West. Star Metals. Coda. These are the some of the names of Atlanta’s biggest office developments and the city’s largest undertakings. Measuring more than 1 million square feet of Class A office space between them, Midtown Atlanta’s skyscraper scene is about to be drastically altered. The gravity of these major mixed-use properties, along with the allure of top talent at nearby universities like Georgia Tech, gives the Midtown submarket an increase in both developer activity and …

Atlanta’s Industrial Market Reaches All-Time Low Vacancy, Despite Strong Pipeline

The industrial market in Atlanta continues to surge, benefitting not only from its role as a key regional distribution hub, but also from the rapid growth in the metropolitan area itself. Atlanta is the economic engine of the Southeast, which also happens to be the fastest growing region in the country. The Atlanta industrial market recorded just over 18 million square feet of net absorption in 2018, the second highest total on record following the 21 million square feet absorbed in 2017. The …

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