Urban office markets across South Florida recorded significant negative absorption in the second quarter, although rental rates so far remain unaffected. In the long run, market observers find reasons for optimism in undiminished demand for Class A space, including a tendency of new high-end properties to lease up relatively quickly despite a general falling off in leasing activity.
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
Fundamentals remained strong in South Florida’s key office markets as 2017 drew to a close, with vacancies continuing to trend downwards and average rental rates climbing. While the entire market can expect continued growth throughout 2018, it is the suburban office markets that are really picking up steam.
JLL’s Q4 2017 Office Insight report offers an overview of the key trends driving the Miami-Dade, Broward and Palm Beach office markets.
JLL Industrial Exchange – 2018 from JLL Florida on Vimeo.
On January 17, JLL hosted its annual Industrial Exchange focused on e-commerce and logistics in Miami, Florida. We were lucky enough to have JLL subject matter experts from across the country join and share their knowledge with local clients, investors and the brokerage community. Topics discussed ranged from global trade to NAFTA to the retail conundrum. Outlined below are the key trends… Read More
While the performance of small- to mid-size warehouses is still a good gauge of the overall health of any industrial market, e-commerce tenants with large space requirements are transforming the way urban markets develop statewide.
These prospective tenants are hungry for distribution centers in highly populated areas, and they bring in their wake a host of third-party logistics and distribution firms. Over the past year or so, Amazon alone has appreciably pushed… Read More
So much goes into the shaping of a city’s skyline: years of planning, financing, construction and adjusting to unpredictable economic trends. Iconic skylines are defined over time by the collection of top tier buildings or trophy assets, that make it memorable. By taking a deeper look into each city’s office market trends, we can predict if or how their skylines may evolve in the future.
JLL recently launched its 2017 Skyline, a… Read More
The nature of how we work is changing. Technology, generational changes in the workplace and evolving business processes have impacted how we utilize our work space. At JLL, we strive to consistently identify the benefits these bring to our clients.
Traditionally, a company’s workplace cost is associated with capital expenses and… Read More
Consumer confidence is at an all-time high both in Florida and across the United States. This, coupled with a low unemployment rate—the lowest since 2008, makes for an opportune time to be a retailer in South Florida. New to the JLL team, Zach Winkler brings his expertise of South Florida retail leasing to the JLL team and our blog.
Nationally, major markets are peaking quickly, with declines in rent appearing in the… 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