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 space is being… 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 reason, tenants are… 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 relates to next… 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 highlights ten trends that… Read More
For companies, a strengthening economy has many pros and, surprisingly, a few potential cons. Booming business means increased capital and the ability to bring on new team members. At the same time, office leasing rates are climbing. Offices rental rates in downtown Fort Lauderdale have reached $36 per square foot and rates in Miami’s Brickell area are climbing as high as $45 per square foot.
As employers are finding the need to scale for office space growth, it can… Read More
Large blocks of quality space are becoming increasingly scarcer in the Orlando market. As employers expand and new-to-market tenants demand bigger office spaces, availability is dwindling and driving interest in the suburbs – again.
In 2015, Orlando led the country in job growth and creation. This boom is trickling down into the submarkets including Lake Mary, the Southwest Corridor, and Maitland Center. Considering the area’s growing population, educated workforce and low cost of business operation… Read More
Warehouses once were dank, dark facilities, often located in industrial areas where few people would want to spend much time. But warehouses, particularly in Florida, are embracing new building and design specifications that are changing the long-established perception that these structures simply exist as a place where cargo stays put.
Companies can no longer afford to simply house goods and materials long-term. If cargo sits too long in one place, the logistics provider loses money.
To… Read More
Remember when merchants everywhere were racing to have an online presence? Fast-forward a few years to an e-commerce market that has become so saturated that is it exceedingly difficult for new products to stand out. The solution: a return to the traditional brick and mortar.
More than 20 US e-commerce companies are estimated to have launched a physical presence in the past year. The ability to provide a hands-on shopping experience, personally connect with customers, and offer buyers the instant gratification of walking out of the store with… Read More
Miami’s maturity as an international city makes it a very attractive place where companies, particularly with Latin American connections, want to have an office or regional presence. But its emergence as an international gateway also makes it vulnerable to global economic turmoil.
With so much economic instability abroad, particularly in countries such as Brazil, we sat down… Read More