Florida's commercial markets are well positioned to move toward true recovery throughout this year and the years ahead, according to the 2011-2012 Florida Market Perspective released by CBRE Group Inc.
According to the report, ‘immense progress’ has been made to shore up Florida's commercial real estate markets, and as a result, the ‘anticipated flood of distressed properties did not dramatically affect the Florida markets in 2011.’ As a result, CBRE predicts that industrial and multifamily properties in Florida will ‘continue to lead the path through recovery, as they did in 2011.’
Furthermore, the report says that retail properties will see further stability and growth, due to an increase in consumer confidence. An increased development of commercial properties will also spur Sunshine State job growth, while development of speculative industrial and multifamily properties is ‘anticipated to begin in many Florida markets.’
The full report is now online.Â
(Photo courtesy USPS)