Florida is famous for its beautiful beaches and thriving tourism industry, making it a prime location for commercial real estate. Florida boasts five of the top ten markets with the most favorable overall conditions in various sectors, according to the National Association of Realtors (NAR). Here, we offer valuable information about Florida’s commercial real estate market.
Thriving Business Markets
Florida’s commercial markets are flourishing, with the state being home to five of the top ten markets that have strong conditions in various sectors such as apartments, offices, industrial spaces, retail venues, and hotels. The following markets are exceptional:
- Located on Florida’s west coast, the Cape Coral-Fort Myers metropolitan area has taken in 195,000 sq. ft. of office space and experienced a net growth of 1.5 million sq. ft. in industrial space over the last year.
- Port St. Lucie is situated on Florida’s eastern coast and is a metropolitan area where all property sectors exceed national averages.
- North Point-Sarasota-Bradenton
- West Palm Beach-Boca Raton-Delray Beach
- Punta Gorda
These markets have seen growth because of strong economic and demographic factors such as GDP growth, employment rates, wage increases, domestic migration, and population expansion.
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Top Commercial Real Estate Stocks
Although there may not be specific stocks dedicated to commercial real estate in Florida, here are some top-tier commercial real estate stocks that you may find interesting:
- Kilroy Realty is an office REIT that owns 119 buildings in five markets: Austin, San Diego, Los Angeles, San Francisco, and Seattle. The company accommodates 403 tenants in over 16 million square feet of rental space.
- Realty Income Corporation is a diversified REIT with a market capitalization of $40.55 billion.
- Prologis, Inc is an industrial REIT with a market capitalization of $113.10 billion.
- Alexandria Real Estate Equities is an office REIT with a market capitalization of $20.68 billion.
- Simon Property Group, Inc is a retail REIT with a market capitalization of $41.91 billion.
These stocks provide chances to connect with some of the world’s most fascinating companies and provide access to upcoming industries set for significant expansion.
In conclusion
Florida’s commercial real estate market is thriving and full of investment potential. Whether you’re looking for office spaces in Cape Coral or retail locations in Punta Gorda, Florida has something for everyone.
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