What a difference a year makes. Commercial real estate markets in the Southeast are making steady, and sometimes notable, progress toward recovery—across all sectors. Although new development is still spotty in most markets, major metros in the Southeast are seeing financeable development plans and, in some cases, groundbreakings.

In Miami, hospitality is the name of the commercial real estate game. Large and small hotels, including the Miami Beach Courtyard Marriott, the Gansevoort Hotel, Royal Palm Hotel, as well as the Raleigh, the Standard and several boutique hotels, are trading hands. At the same time, new mixed-use developments with strong hotel components, including the $3.8 billion Resorts World Miami, are on the boards.

Suzanne Amaducci, shareholder at Bilzin Sumberg Baena Price & Axelrod, says the Miami hotel market is on fire right now both in terms of business performance and sales volume. Indeed, the Miami hotel market is one of the top 10 in the US for ADR and RevPAR growth and transaction sales volume, and many predict this performance level to continue over the next five years.