JLL’s Retail Outlook for the first quarter found major U.S. metro areas falling from the peak of the real estate cycle, with rents softening and vacancies stagnant or mounting. In key Florida markets, however, retail is faring comparatively well. While Tampa is just beginning to experience a softening of the market, fundamentals in Miami and Orlando are still improving, helped by a surge in demand created by significant in-migrations of Puerto… Read More
In 2017, grocery-anchored centers grew by 5.4 percent –– a vote of confidence among investors that grocery stores will not be disappearing anytime soon. Florida was one of the top five states in the U.S. for growth in the sector, posting a 6.0 percent increase over 2016 in new grocery space. In sharp contrast, grocery openings nationwide plunged 28.8 percent last year as many brands reevaluated corporate strategies.
The endurance of food markets… Read More
There is a fresh drive among residents, businesses and leaders of Jacksonville to create a thriving and vibrant downtown to rival similar cities of its size across the US. This push is spurred by momentum from Florida’s positive economic influences and local economic wins, as well as national real estate trends. While the last decade has brought much of the same for the Central Business District’s (CBD) office properties and vacancy… Read More
Tampa’s commercial real estate market – and the Tampa office market in particular – is already an appealing destination for large, corporate tenants. The latest JLL research proves that while large blocks of space are limited, tenant demand is strong, so there is still room for growth.
We asked the expert, JLL Tampa’s Executive Vice President and Broker Lead, Brent Miller, a few questions to learn more about the future for the office… Read More
In part two of our Skyline series, we move up the state to take a deeper look at the skylines that make up the downtowns in Central and North Florida (click here to read Part One: South Florida). JLL recently launched its 2017 Skyline, a comprehensive report that analyzes supply, demand, rent and investment data across the country’s urban cores, with three of the profiled Skylines in Central and North Florida.
The… Read More
Entertainment and warehouses don’t typically coexist, but Florida is about to see a revolution in the way it thinks of industrial parks. With the rise of e-commerce fueling a surge in industrial demand, savvy developers are learning it takes more than picnic tables to keep tenants happy, especially in cases where the workforce is on property around the clock. This is giving way to a new type of asset where industrial… Read More
Amid major geopolitical and economic developments that occurred in 2016, there is an air of uncertainty regarding the future of Florida’s economy. While some anticipate continued economic expansion—at least within the US—others fear a recession may be on the horizon.
We sat down with JLL Associate, Ryan Vaught, to learn about the challenges being presented in the Tampa industrial real estate market.What is the largest challenge facing Tampa’s industrial market today?
Year-end vacancy in the Tampa market is at an all-time low, most notably in Pinellas county. There is a clear lack of available space, and the small amount of space that is available is not of a high quality. For this… Read More
To many leading experts, the future of Florida’s commercial real estate market lies within the industrial sector. At a recent CRE panel, Scott Gregory, Vice President of Prologis, a global leader in industrial real estate development and logistics, explained that advancing technology is a driving factor behind a surge in industrial activity.
One way new technologies effects on the industrial market and logistics has been the rise of e-commerce, particularly as it… Read More
Tech is one of the fastest growing industries in the U.S. Its impact has spilled over into almost every sector, including commercial real estate. As JLL’s latest tech report, the 2016 Tech Outlook, points out: technology remains the leading industry for real estate expansion in the United States and has quickly become a key economic driver in many cities.
The report… Read More