Monday’s Afternoon Update

Florida cities considered 'overdue' for direct hurricane hits

It’s been over 100 years since a hurricane hit Tampa, and 34 since one hit Miami directly. Some forecasters consider both cities “overdue.” Both Tampa and Miami are vulnerable to potential impacts, as they're low-lying and prone to storm surge flooding. Additionally, both have seen rapid development in recent decades. Florida's east coast has also had very few hurricane landfalls recently, which is quite the contrast from the seven hurricanes that struck between 1945 and 1950. More from Florida Today.

Investors target smaller aerospace suppliers as Jacksonville defense sector booms

As massive aerospace and defense contracting projects bloom in Florida and the Jacksonville area, investors are eyeing smaller companies from metal fabricators to specialty materials providers for mergers and acquisitions. During a luncheon hosted by Heritage Capital Group, Bill Skinner, a principal at Heritage Capital Group; and Oren Schmidt, vice president of aerospace strategic partnerships, at Marmon Holdings, spoke on what investors could capitalize on and what headwinds are present. More from the Jacksonville Business Journal.

Tampa Bay office vacancy hits four-year low

Tampa Bay’s office market posted its strongest vacancy improvement in more than four years to start 2026, as steady tenant demand and limited new construction reduced available space. The region’s overall vacancy rate fell to 18.2% in the first quarter, down 110 basis points from a year earlier and the lowest level recorded since the end of 2021. Net absorption remained positive for a second consecutive quarter, totaling nearly 115,000 square feet, as tenant move-ins outpaced new supply. More from Tampa Bay Business & Wealth.

Brevard County leaders block tax breaks for AI data centers

Brevard County commissioners have thrown up a roadblock for AI data centers, moving to shut the door on county property-tax breaks for the massive facilities. The board told staff to revise the county’s economic-development rules so data centers would no longer qualify for ad valorem tax exemptions, a local counterpunch to the national rush to build large, energy-hungry server farms. More from Hoodline and the Orlando Business Journal.

Sarasota’s St. Armands Circle sees big comeback after hurricane damage

Businesses on Sarasota’s famed St. Armands Circle are back at full capacity on one of its most storm-battered blocks. Now fully leased, a three-unit retail building at 28 S. Boulevard of the Presidents, which took on significant flood damage during hurricanes Helene and Milton in 2024, has reached full occupancy after a renovation and a careful effort to rebuild the right tenant mix. More from the Sarasota Herald-Tribune.