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
South Florida has always been an appealing destination for law firms- a key industry for the region’s office market. JLL’s 2017 Law Firm Perspective found that rents are approaching record highs of $50 per square foot as firms flock to new mixed-use developments in South Florida’s urban cores.
We asked the expert, JLL Managing Director Matthew Cheezem, a few questions to learn more about law firm leasing trends. Click to watch, and… 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
Across the country, office markets are tightening, driving higher rents, generating developer interest to build new office space and investor demand to acquire more office assets. In tighter markets, change is swift and impactful. This is just one of the reasons JLL is presenting the new skyline report as an interactive digital platform. For the first time, the popular JLL Skyline report on Class A and Trophy office towers can be quickly compared… Read More
Navigating the uncharted waters
Many unknowns lay in the wake of the U.S.-Cuba economic embargo changes. Attempting to navigate the workings of an economy which has been forbidden for the past 50 years raises important questions: How will the establishment of business relationships with Cuban entities and a communist political system be implemented? Are the potential economic gains worth the risk and stress of… Read More
JLL took the pulse of South Florida’s commercial real estate market at its inaugural Pulse360 event this month in Miami, where institutional property owners, lenders, developers and top CRE brokers gathered for a panel discussion to shed light on key trends to watch in the local real estate market. The panelists touched on just about everything – ranging from shifting investment from Latin America, the impact of loosening Cuba-US relations on… Read More
#1 Tourism growth: Florida continues to deliver strong tourism numbers, from the Disney theme parks in Orlando to the beaches of Miami Beach, driving strong activity for the hospitality and retail sectors. This translates to demand from hotel and… Read More
A closer look at the Florida office market – Q3 2014. The positive momentum continued across Florida during the third quarter of 2014 as 202,500 jobs were added over the last 12 months, a year-over-year gain of 2.7 percent.The six primary metro areas had compelling growth adding over three fourths of these statewide jobs in the