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Global Ties Insulate S. Fla. Market

MIAMI-The region's strong links to the Caribbean and Latin American markets are having a positive effect on the South Florida commercial real estate industry.

By David R. Corder | Updated on July 02, 2001

MIAMI-The South Florida commercial real estate industry appears well positioned to weather the current downturn in the US economy, thanks in large part to the region’s increasing prominence as a global trade center.

Although exhibiting some signs of softness, key office and industrial market indicators show the region is nowhere near the dismal state that defined the South Florida region in the late 1980s and early 1990s when the commercial real estate industry almost came to a virtual stop.

“The Latin American economies drive the South Florida commercial real estate market,” Ford Gibson, president and chief operating officer of Miami-based Codina Group Inc., tells GlobeSt.com. “If you look at our region, the economy is far more dependent on what happens overseas than what happens in the US.” Newly released market reports support Gibson’s contention.

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