REBusinessOnline

Industrial Supply, E-Commerce Demand Create Recipe for Orlando’s Silver Lining

For years, “just in time” has been the key to driving efficiency of retailers and manufacturers alike. This model by and large combined low-cost production in Asian markets supported by speedy air carrier distribution to move goods while holding minimal cushion for backup stock. Post-pandemic thinking could bring that epoch to an end. The crisis has underscored our distribution networks’ fragility, which are now vulnerable to closed facilities, ports and borders. Many businesses are …

Pandemic May Lead to Opportunities for Orlando’s Most Resilient Retailers

For the Orlando retail market, which relies heavily on Central Florida’s $75 billion tourism industry, the impact of the COVID-19 pandemic has been twofold. Not only has the local consumer base begun relying more heavily on online shopping and home-cooked meals, but the number of out-of-state and international visitors who typically travel to Central Florida for its renowned theme parks and attractions has plummeted. Statewide, Florida’s tourism industry suffered an estimated 60.5 percent …

Orlando Office Market Remains Strong with Pent-Up Capital Poised for Play

Economic health at the start of 2020 set a foundation for Orlando’s office market that remains in a good position despite headwinds caused by the global COVID-19 pandemic. Nationally, the United States saw its longest-running period of economic growth before non-essential business was paused. Even with the slowdown in tourism, Orlando continues to see an uptick in local economy-boosting sectors, including defense and technology. Additionally, an increasing number of companies and individuals …

Miami-Dade County’s Industrial Market Sees Healthy Activity Amid COVID-19 Headwinds

The Miami-Dade industrial market saw a prolific year in 2019, followed by a healthy, yet slower first quarter in 2020.PortMiami’s record-shattering fiscal year 2019, with cargo operations posting 1.1 million twenty-foot equivalent units (TEUs) and cruise passengers totaling a world’s best 6.8 million passenger total, correlated with the robust warehouse and distribution demand the market experienced throughout 2019. There was a 9 percent uptick in South Florida industrial investment …

Miami’s International Status Helps Sustain Office Development, Fundamentals

The surge of momentum happening in Miami’s office market is undeniable with the metro emerging as a new international hub for startups and regional companies alike. Fueled by a multilingual workforce and easy access to Latin America and the Caribbean, Miami’s status as an international gateway is drawing the attention of office landlords and investors from around the country, as well as a wide variety of office users. Investors like Starwood Capital, Appaloosa Management and Icahn …

Corporate and Economic Growth in Miami Drive Tenant, Investor Demand for Office

Miami continues to be a top-ranked commercial real estate market in the Southeast United States. As the economy gears up to enter its longest expansion period in U.S. history, Miami has shown more resiliency than other South Florida markets, recording steady gains in absorption, robust leasing activity and modest rent growth. Economic fundamentals remain strong as job growth continues to fuel Miami’s office market with the unemployment rate trending down to 3.2 percent. Miami’s …

Office-Using Employment Growth Reaches Record Levels in Orlando

The end of the second quarter of 2019 marked 120 consecutive months of U.S. economic growth, the longest on record. The steady climb in investment sales over the past few years has been fueled by record amounts of institutional capital and private equity, and office-using employment has reached an all-time high. By the end of March of this year, Florida’s private sector businesses had created over 208,000 jobs over the trailing 12-month period, and Orlando had reached 48 straight months as …

Orlando Apartment Market Shows Long Runway for Future Growth

The Orlando multifamily market may have an appearance of being oversupplied and on shaky ground, but it is actually thriving and has a long runway for growth ahead. The Orlando MSA has an inventory of approximately 165,000 rental units and about 10,000 units under construction. While that new supply approaches historical high-water marks, the lack of inventory of entry-level, single-family homes and the complexion of the household formation leads us to the conclusion that we are undersupplied …

Orlando’s Retail Market is Thriving Both in the Core and Suburban Submarkets

Orlando’s retail market happens to be a really good representation of the national market. By every metric, Orlando is doing well as both rental rates and occupancy rates have been increasing. Orlando is one of the fastest growing cities in America, adding roughly 1,000 new residents each week. Tourism numbers continue to climb with 75 million visitors in 2018, according to Visit Florida. Downtown is experiencing an economic resurgence with a new collegiate campus (more on this later). As a …

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 …

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