While South Florida retail sales growth slows, necessity-based retail shines
Publix tries to stay ahead of competition through retail center purchases
Real retail sales in South Florida remain around 20% above pre-pandemic levels, but sales growth has moderated since 2023, as shown by the yellow line chart above.
Miami multifamily supply shifts from suburbs to downtown
Changing construction trends will impact downtown’s rental premium
Miami’s multifamily supply pipeline remains elevated in select submarkets. Kendall, Homestead, Doral, North Miami Beach, Miami Gardens, and downtown Miami are all seeing significan...
South Florida’s rising business costs make alternative industrial markets attractive
Lakeland and Jacksonville stand out as affordable options for regional distributors
Due to its geographic constraints, South Florida is mainly a local distribution market with certain advantages and disadvantages.
South Florida office sales activity sees slight uptick
Sale counts rise across transaction price ranges in last 12 months
Office transaction counts rose 10% by the end of 2024, after dropping to recent lows of around 111 transactions in the twelve-month period ending in the first quarter of 2024. All ...
South Florida’s apartment supply wave met by healthy demand
Miami luxury multifamily vacancy remains below the pre-pandemic norm
While the number of new apartment units added in South Florida reached a historical record in 2024, with over 18,600 new units, the area has maintained healthy vacancy rates.
South Florida's office market 2025 outlook: a year of optimistic uncertainty
Recent trends shed light on next year’s transaction activity
Office transaction activity in South Florida has remained sluggish over the last year, hitting a decade low. In line with national trends, the number of transactions has fallen by ...
Sun Belt apartment boom: Where supply surges hit hardest
Understanding the full picture of apartment supply trends
Sun Belt markets continue to see significant apartment construction activity, which has been affecting vacancies and rent gains over the last year, specifically for luxury units. T...
Moderating consumption and port activity affecting Miami industrial space demand
Large logistics properties farther from the port see rent growth weakness
Compared to right before the pandemic, Miami's import volume has increased considerably. This trade activity has bolstered industrial demand in the area, with newer properties loca...
Office tenant demand-share falls for finance, healthcare and information sectors
Increasing venture capital funding not yet translating into rising tenant demand in South Florida
As office leasing activity has slowed in South Florida since 2023, remaining 5% below pre-pandemic averages from 2015 through 2019 across the region, underlying tenant demand has a...
Retail value-gains outperform other asset types in South Florida
Performance of fundamentals driving divergence in property sector values
After growing in tandem prior to 2019, property sector value performance in South Florida has diverged drastically following the pandemic. Although all sectors have seen value appr...
Florida ranks number one for state-to-state movers
Though migration is slowing, Florida still tops the list for inbound residents
Migration within the U.S. has been slowing, within and across states. The share of the country’s population moving within the same state has fallen from 9.4% in 2022 to 9.1% in 202...
Miami multifamily supply risk remains elevated as construction starts reverse course
A rise in units under construction push downtown Miami supply peak to 2027
In defiance of broader South Florida and national trends, Miami’s apartment construction activity has regained steam. Construction starts in the second and third quarters of 2024 t...
Apartments act as release valve for constrained housing market
Nationally, new job creation is not too far ahead of housing permits
It has become a common trope to say that the U.S. is structurally under-housed, but according to a few key indicators, the U.S. housing market is more balanced than one may think. ...
South Florida industrial rents remain flat over the last year
After double-digit hikes, rents start to stabilize at elevated levels
With leasing activity moderating to pre-pandemic norms, the strong run up in industrial rents appears to be flatlining across South Florida. With the exception of Palm Beach, space...
Office tenant demand remains healthiest across North Palm Beach suburbs
Elevated rental rates Downtown boosting demand for PGA Boulevard office properties
The Palm Beach office market has continued to see healthy performance through the third quarter of 2024, with annual rent growth of around 3%, well above more moderate gains of 1% ...
Office leasing strongest outside South Florida central business districts
Tenants still seek better value outside hot pandemic-era central areas
Markets like Brickell, downtown Miami, downtown Fort Lauderdale and West Palm Beach were hotbeds for office leasing activity directly after the height of the pandemic, but tenant a...
South Florida apartment rent growth has potential to regain momentum in 2025
Strength of the area’s labor market will dictate pace of rent hikes
Despite significant growth in luxury apartment inventory, South Florida remains one of the top-performing regions in Florida.
South Florida office market remains active despite slowdown in corporate relocations
Properties east of Interstate 95 outperform, while older assets west of I-95 struggle
Market participants remain optimistic about South Florida, even though the number of annual office lease transactions has fallen around 20% from recent highs in 2022 and 15% from m...
Demographic gains are strong boost for St. Lucie retail space
Population in prime spending years sees significant growth since 2019
The low availability of existing retail space due to limited construction activity over the past decade has buoyed retail rent gains and values in South Florida. Although this narr...
Imports from Mexico and Southeast Asia remain elevated
The nearshoring and reshoring narratives continue to evolve in 2024
The number of inbound loaded commercial trucks crossing the U.S.-Mexico border has skyrocketed in recent months, with these almost doubling through the 12 months ended in July 2024...