4 Reasons Why South Florida Commercial Real Estate is Hot Right Now
Florida Is Popular Commercial Real Estate
It’s no secret that Florida is a favorite destination among many, whether moving for retirement or simply getting away. South Florida is a particularly great place to be, and starting a business here can prove incredibly lucrative. If you’ve ever considered investing in commercial real estate, now is the time! Here are some of the top reasons why South Florida’s commercial real estate scene is thriving now more than ever.
- Growth in Population: While South Florida has always had a sizable population, it’s currently on the rise and isn’t expected to stop any time soon. Experts estimate that by 2030, more than 26 million people will call Florida home. Miami, just 30 minutes down the road from Fort Lauderdale, currently has almost 3 million residents with the 6th fastest growing population in the U.S.
- Business Incentives: Florida is ripe with incentives for business owners. It’s easy to see why the Sunshine State is ranked #2 in the nation for business, with its lack of estate tax, personal income tax, and inheritance tax. It’s estimated that 20% of America’s businesses that export products are located in Florida.
- Growth in Retail: Recently, retail growth in South Florida has been simply exponential, at around 4-5% from year-to-year as opposed to 1-2% in the rest of the nation. More than 2 million people work in Florida’s retail market at over 270,000 stores, so it’s easy to see the potential for your commercial venture to thrive.
- Stability: Everyone strives for financial stability, and Florida is the place to obtain it. The state consistently ranks in the top 10 states in Fiscal Stability and Economy from US News & World Report. Job growth and venture capital funds are also on the rise, giving more people good reason to relocate here.
Launch Your Real Estate Business
South Florida is the place to be to launch your commercial real estate venture. To get off on the right food, it’s important to work with a Fort Lauderdale commercial real estate attorney to help you negotiate your lease and ensure you’re getting exactly the deal you want.
Get Help From An Experienced Attorney
Mark Schecter is an authority in South Florida commercial law, and his years of experience in the field will guide you to reach your business goals. Contact Mark today for more information on how he can help you grow your company.