Everything About South Florida Retail Real Estate

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You shall find that on the lower level, South Florida is one of the major supply markets because of its vast available land. These lands are now known commercial properties and you shall also find Florida Retail up for sale. Recently there has been a softening in the rates of the products which are generally considered as the non-core product. Still, other products are available at a very relatable rate in the markets of South Florida.

South Florida Vacancy Rate:

The vacancy rate in the commercial real estate South Florida market has not increased or decreased so much. It has maintained the rate of 3-4% for the last 6 years. Even the rental rates have reached their peak during this phase. 

Let’s take a quick look at some of the leading transactions of commercial real estate South Florida market,

  • The Cutler Bay Towne Center leased a new 33,880 square feet space for the shopping center. Compared to the Miami shopping centers, this space seems little to the owners. It’s in South Dade and the tenant of this space is Crunch fitness.
  • Doral Square recently leased 24,147 square feet of space at 8700 NW 36th street. This space is situated near Miami Airport and the tenant is Ross Dress for less. Doral Square has leased this place for the mixed purpose. 
  • 530 Lincoln Rd leased 14,300 square feet space from Snowfields near Miami Beach. 
  • Both domestic and international investors have made their contribution to the uprising of the market. It helped the CRE of Florida to remain positive even in such terrible conditions of the market. 

Why Florida’s real estate is in demand:

The outbreak of the pandemic forced everyone to shift to the online sales and services method. The high demanded areas of South Florida started creating a buzz when the online sales covered the whole market. 

You can expect more industrial developments in this area as the demand is still growing. Spaces for Miami shopping centers and also for usages are in high demand. 

As Florida is expanding its reach towards the whole world by opening its market for everyone, chances are higher that the real estate market will make a huge difference there. The leases and properties, which got closed, are expected to open soon. You shall soon find new business will capitalize the whole market as the people are eager to stay safe and still go for the quality time and properties that they must buy.

 Before investing in the market of Florida – you are sure to do some research of your own. You shall find the market is good with its sense of security. Once you find the best real estate agents or a service provider – you shall be able to look around more and select what you need.

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