Photo: Avison Young chart
Florida Trend Real Estate
Industrial investment market continues as Florida's leader
Industrial investment market continues as Florida’s leader
Industrial continues to be the hottest asset type for investment in the major Florida markets, according to the latest “Commercial Real Estate Investment Review for North America and Europe” from Avison Young. There continues a heathy investor appetite overall for Florida assets, while foreign capital from Latin America and Canadian investors who already have assets in South Florida are starting to expand. [Source: Globe St.] Looking at real estate investment in some of Florida's major metros, Avison Young finds:
- Fort Lauderdale: Investors seizing opportunity in suburban supermarkets
- Jacksonville: Multi-family and industrial sectors earn most transation volume
- Miami: Industrial vacancy rates fall to record lows
- Orlando: Multi-family transaction volumn continues to exceed expectations
- Tampa Bay: Strong economic fundamentals and steady demand fuel activity
- West Palm Beach: Multi-family investment triples due to positive in-migration
With the continuous growth of the construction industry in the Southwest Florida market, accompanied by a stable real estate market, people from all over the country are moving down. This new app is meant to ease the process of finding and buying homes. [Source: Naples Herald]
Now, just as in the early 1990s, the cancer talk is dominating the conversations among many in the communities south of Patrick with rumor, innuendo and finger-pointing circulating among residents, business leaders and city officials. Also, just like a quarter of a century ago, there are questions about what it will mean for home values and economic growth. [Source: Florida Today]
The 60,000-square-foot Versailles-inspired home known as Playa Vista Isle estate, located on Florida’s Gold Coast between Miami and Ft. Lauderdale and embellished with over 500,000 22-karat gold leaf sheets will be available to prospective buyers on the Concierge Auctions platform on November 12 at a $159 million starting price. More from Inman and the South Florida Sun-Sentinel.
Aldi is gearing up to take on the vast spectrum of grocers with a presence in Florida — from specialty shops like Lucky's Market to giants like Publix Super Markets Inc. and Walmart Inc. The German discount grocer is spending $115 million to remodel 83 locations by the end of 2020. [Source: ]
› Jay Kislak, patriarch of real estate company, historian and philanthropist, dies at 96
Real estate magnate Jay Kislak didn’t do small. For his 95th birthday a year ago, Kislak, the Miami Lakes chairman of The Kislak Organization real estate company, celebrated with hundreds of people on the aircraft carrier Intrepid in New York.
› Jupiter community withdraws cash-and-land offer to build on conserved acres
A north Palm Beach County residential community founded by golfer Jack Nicklaus and his wife Barbara withdrew its bid to remove a conservation easement and allow home construction.
›Focus changes, work begins on major Southwest Florida resort development
Work on site preparation and infrastructure has started on a character-changing Southwest Florida development on Charlotte Harbor, but the focus has changed, as Allegiant Travel Company will concentrate on developing its 25-acre Sunseeker property as a resort hotel, placing potential condominium sales on the back burner.
› Priderock pays $98M for Florida rental complexes
Property records show West Palm Beach-based Priderock bought Waters Edge Apartments, a 316-unit rental community at 10901 Northwest 40th Street in Sunrise. The second property, Arbor Walk, is at 4121 East Busch Boulevard in Tampa and features 230 units.
Previous Real Estate Updates:
- Florida leads nation in growth of first-time homebuyer rates
- Florida home insurers drop thousands of policies
- Housing sales, inventory trending up in Florida
- Florida timeshare industry changing amid rising default rates
- Affordable housing in Florida: Déjà vu, all over again
- Skyline shapers, city changers in Florida
- Foreign investment in residential real estate drops in Florida
- Florida's Class A office market posts big numbers
- There's a surplus of luxury condos in Miami, but three more developers are building anyway