South Florida Commercial Real Estate
The recent boom in Commercial Real Estate in Florida has not gone unnoticed. Many interested parties have been holding their breath as a result of the ongoing pandemic that has all but destroyed many businesses throughout the United States. That fear may not be warranted in the long term as it pertains to the state of Florida. This week alone, a global investor, Nuveen Global, acquired a large Industrial Portfolio for well over 250 million dollars which included four locations in Florida. Yet another healthy deal follows Nuveen with reports indicating that Marcus & Millichap brokered a 2 million dollar sale of a commercial location, close to 4,000 square feet of property, that was net leased to Starbucks.
Market Adaptation During Coronavirus
The old saying goes “New York, the city that never sleeps”, the fact is that South Florida never sleeps. South Florida Commercial Real Estate is not sitting the market out. Even in what would appear to be a downward market that no doubt, did have and will continue to have both highs and lows, Florida Real Estate is still in demand.
The market has learned to adapt and everyone from Real Estate Attorneys to Brokers and all industry parties in between have adapted. Some of this adaptation includes an emphasis on virtual tours and private appointments but that’s not all, on the realtor end, it also includes online events like the recent Miami Association of Realtors conducting a virtual commercial real estate conference. In addition, events with high profile parties diving into and discussing South Florida Real Estate like the Wynwood event covering an overview of Wynwood’s commercial real estate market.
Moving Forward During The Pandemic
Both business and life are moving forward in South Florida and that includes new commercial and retail locations, purchase, sales, and builds. From a string of national retail business opening shop along the Miami River to a brand new Wing Stop retail location opening shop in Fort Lauderdale and any number of other new commercial locations rising up through the pandemic to start, re-start or renovate commercial locations, the time to acquire your commercial real estate is now.
Looking To Purchase Or Sell Commercial Real Estate In South Florida?
You need an experience and knowledgeable Commercial Real Estate attorney who has an indepth knowledge of Commercial Real Estate in South Florida. Mark Schecter specializes in the South Florida markets and can offer you superior commercial real estate counsel.