April 10, 2020
Commercial real estate booms in cannabis-friendly states

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Florida Trend Real Estate

Commercial real estate booms in cannabis-friendly states

| 2/17/2020

Commercial real estate booms in cannabis-friendly states

Green makes green, apparently. Investors can’t get enough warehouse, retail, and land in states that have legalized recreational cannabis use, according to a new study. Investors have poured money into real estate in states with legal recreational use. Some investment firms are opening offices and making moves in states where legalization seems on the horizon. More from Yahoo! Finance and the Real Deal.

Taking a look at the strong housing market in Central Florida

To say last year was a strong year for the housing market would be an understatement, but will that trend continue in 2020? If January was any indication, then the answer is yes. The median list price of homes in the Orlando area last month was $277,500, a 7.1 percent jump year-over-year. [Source: WKMG]

Watch out, homeowners. Your insurance rates are about to jump.

Florida homeowners had better watch their wallets in 2020 — and ask their insurance agents to shop for cheaper deals. The torrent of insurance price hikes predicted after Hurricane Irma barreled up Florida’s gut in September 2017 is here. [Source: South Florida Sun-Sentinel]

Invisible homelessness: How families end up living at hotels on the Space Coast

Across the Space Coast and nationwide, there’s an invisible brand of homelessness hiding behind hotel and motel doors. In many cases, those crowded into these sometimes dicey accommodations are couples or families with at least one member carrying a recent eviction, criminal and/or credit woes that make them undesirable tenants elsewhere. [Source: Florida Today]

Would you live in a ‘tiny home’? In the Florida Keys, leaders hope it’s a solution

Hurricane Irma destroyed more than 4,000 homes in the Florida Keys in September 2017, subtracting from the already slim affordable housing supply up and down the island chain. That’s why in December 2018, the five-member Monroe County Commission approved a pilot program that looked for builders to supply very small homes that were code-compliant with newer wind and flood standards. [Source: ]

STAT OF THE WEEK
6.6 million
The short-term rental market in Florida served 6.6 million guests last year and earned property owners $1.2 billion in supplemental income. [Source: Miami Herald]

ALSO TRENDING:

› More office space is in the pipeline for Wynwood. But when will tenants flood in?
Office space development in Wynwood keeps growing, but some South Florida brokers are struggling to find tenants to fill the new inventory. The ongoing construction is to blame for the lull in office leasing activity in Wynwood, Danet Linares, vice chairman of Blanca Commercial Real Estate, said Thursday at a CREW luncheon.

› Builder, with nearly $320M in sales, names head people executive
National construction management firm DeAngelis Diamond named Kiley Tyler head of people at the company. In her role, Tyler will provide leadership for the Naples-based company’s benefits plans and strategies, HR regulatory compliance matters, team member experience and development and overall healthy workplace culture.

› More homes sold in Broward than in Miami-Dade or Palm Beach last year
Broward beat out Miami-Dade and Palm Beach counties for the highest number of home sales last year, according to recently released reports. In 2019, 61,524 homes and condos sold in the tri-county region of South Florida. Broward saw 32,609 residential closings last year, according to the Miami Association of Realtors.

› Tampa’s Bayshore Boulevard is getting another high-rise condo project
The Related Group of Miami this week filed plans with Tampa City Hall for its next high-profile project in the bay area: 168 luxury condos in two towers of 27 and 26 stories on Bayshore Boulevard. "This will be a landmark project that furthers Tampa’s emergence as a next-generation city,” Related senior vice president Mike Hammon said.

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