Florida commercial real estate industry ranks third in U.S.
Florida’s commercial real estate industry contributed $189.4 billion to the state’s economy in 2017, the third most of any state, according to an annual economic impact study. Only California and Texas contributed more, according to a NAIOP Commercial Real Estate Development Association survey conducted by George Mason University. Download the white paper, "Economic Impacts of Commercial Real Estate." Also read more at the Jacksonville Daily Record.
The way people search for homes has changed dramatically since the 1990s. Today, more than 94 percent of home buyers are using the internet when beginning their home search, not the local paper and not driving around neighborhoods. [Source: Tallahassee Democrat]
Barbara Liberatore Black’s rise to managing director of JLL’s South Florida office was not an easy one. Currently the only female executive in her office, Black was also one of the first women in commercial real estate in Miami. Women in the field find the deck is largely stacked against them, even as some top firms have been celebrated for their inclusionary policies. [Source: The Real Deal]
The pattern is being repeated in real estate brokerage and loan offices around the state. Fearing rising interest rates, would-be homebuyers are speeding up their home searches and quickly signing on the dotted line, according to lenders, brokers and developers. [Source: South Florida Sun-Sentinel]
If you're looking for a green, energy-efficient home, you need to be on guard. That's because some homes are being marketed as environmentally-friendly and energy-saving when they're not. The practice is called "greenwashing," and experts said it's a growing problem. [Source: NBC-2]
› Here’s what almost $7 million will buy along the Gulf. Hint: It’s gorgeous [Bradenton Herald]
It’s early in 2018, but a single-family, gulf-front home on Longboat Key recently sold for $6.8 million, making it the highest price paid for a single-family home in Manatee County this year. Or last year, for that matter.
› Average home sales price in Brevard County up 15 percent [Space Coast Daily]
Average home sales price in Brevard County is up 15 percent to $247,000 compared to February 2017. Statewide, Florida’s housing market reported more closed sales, more new listings and higher median prices in February even as for-sale inventory remained tight.
› Florida real estate law group adds partner [The Title Report]
Treiser Collins has expanded its real estate law practice with the addition of Thad D. Kirkpatrick as partner, the firm announced. Kirkpatrick focuses on commercial and residential real estate, real estate development and construction law, title review, title insurance and closings and general business matters.
› Surreal estate: Sarasota partners hit unlikely jackpot [Sarasota Herald-Tribune]
Longtime friends, too, Ross Bryans and John Petitti recently inked a deal to sell 100 rental units in three apartment complexes to two companies — one local and one from Houston — for $11.3 million. They had paid $4.3 million during the Great Recession.